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<Research>JPM Predicts MO Feb GGR to Hike by Max. 5% to MOP20.7B; GALAXY ENT Top Pick
Recommend 3 Positive 11 Negative 9 |
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Based on industry data, Macau's GGR for the first 15 days of February recorded MOP8.8 billion, implying a daily run-rate of approximately MOP587 million, JP Morgan said in a research report. The daily run-rate over the past week dropped to MOP543 million, vs MOP625 million in the first week of February and MOP730 million in January. Looking ahead to the Lunar New Year period and February, the broker forecast that the GGR will continue to rattle in the coming weeks, with daily run-rate for the third and fourth weeks possibly ranging MOP850 million-MOP1 billion and MOP750 million-MOP800 million, respectively. At the moment, the broker predicted that February's GGR will grow by 2-5% YoY, at MOP20.1 billion-MOP20.7 billion, with a daily run-rate of MOP720 million-MOP740 million. The combined growth for the first two months was expected to be 13-14% YoY. In terms of stock picks, JP Morgan advised investors to focus on individual stocks instead of waiting for a broad rerating. It named GALAXY ENT (00027.HK) as the top pick, assigning an Overweight rating. Other preferences in pecking order were MGM CHINA (02282.HK), SANDS CHINA LTD (01928.HK), WYNN MACAU (01128.HK), Melco Resorts & Entertainment (MLCO.US), MELCO INT'L DEV (00200.HK), and SJM HOLDINGS (00880.HK). AASTOCKS Financial News Website: www.aastocks.com |
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