by winston » Fri Dec 18, 2015 6:36 pm
C Suisse: 4 Major Reasons to Buy GALAXY ENT; Target Kept at $37.6
Credit Suisse, in its research report, listed four key reasons to buy GALAXY ENT (00027.HK) -0.150 (-0.633%) Short selling $67.17M; Ratio 21.805% .
Its target price was set at $37.6 and the investment rate was reiterated at Outperform, being the top pick in the industry.
Firstly, the group has stable fundamentals, with an increasing market share of 24-24.5% from 22.1% in 3Q15.
Secondly, GALAXY ENT's EBITDA in the fourth quarter can reach $2.3 billion, up 10% quarterly.
Thirdly, GALAXY ENT has an attractive valuation. In a more conservative forecast model, the stock is still trading at 9x 16E EBITDA.
Last but not least, the industry's decline in gaming revenue is narrowing, especially for the mass.
Source: AAStocks Financial News
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