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<Research>JPM: SANDS CHINA LTD (01928.HK) 1Q24 EBITDA Slightly Miss, but Current Shr Price Attractive
Recommend 5 Positive 20 Negative 8 |
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JPMorgan wrote in a report its disappointment that the 1Q24 EBITDA of SANDS CHINA LTD (01928.HK) was slightly weaker than expected. However, most of the negative impact was due to renovation work and seasonality. While this may continue for a few more quarters, the broker believed the current share price still offered a rare and attractive buying opportunity. JPM further believed SANDS CHINA has high-quality assets and businesses at attractive valuations. In the medium term, the broker expected the group to pay a dividend for FY24 in February 2025, while forecasting its share price to rise next year. The broker maintained its Overweight rating on SANDS CHINA, with a target price of $27.5. AAStocks Financial News |
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