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<Research>M Stanley Lifts GALAXY ENT (00027.HK) TP to $44, Expects Div. Payout Ratio to Hike to 60%
Recommend 11 Positive 18 Negative 6 |
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In response to GALAXY ENT (00027.HK)'s interim results, Morgan Stanley updated its forecasts, raising its 2025-2027 dividend payout ratio forecasts from 50% to 60%, with a 19% increase in DPS forecasts. Due to higher expected operating expenses, the broker also lowered its 2025-2027 EBITDA forecasts for GALAXY ENT by 1%, and reduced its EPS forecasts from $2.39/ 2.58/ 2.73 to $2.36/ 2.56/ 2.72 respectively. Morgan Stanley lifted its target price from $40 to $44. Morgan Stanley anticipated that the opening of the Capella Hotel will help GALAXY ENT gain its market share, with rating at Equalweight. However, the broker also reminded that, if peers resume dividend declaration and the Company's market share remains weak, some potential premium may reverse. AASTOCKS Financial News Website: www.aastocks.com |
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