Core Viewpoint - Haitong International initiated coverage on Sands China Ltd. with an "Outperform" rating, highlighting the company's position as a leader in the Macau gaming industry amid a recovery phase, indicating a positive cycle of improving profitability, cash flow quality, and stable dividends [1] Group 1: Company Overview - Sands China is recognized as a leading player in the Macau gaming sector [1] - The company is currently experiencing a recovery in the industry, which is expected to enhance its financial performance [1] Group 2: Financial Outlook - The report suggests that Sands China is entering a positive cycle characterized by improved profitability, better cash flow quality, and stable dividends [1] - The current valuation of Sands China remains below pre-pandemic levels, indicating potential for growth [1] Group 3: Investment Recommendation - Haitong International has set a target price of HKD 25.6 for Sands China, reflecting an optimistic outlook for the company's stock performance [1]
海通国际：首次覆盖金沙中国并给予优于大市评级