Zhi Tong Cai Jing·2025-11-07 06:02Core Viewpoint - The report from Credit Lyonnais indicates that Galaxy Entertainment (00027) achieved a 14% year-on-year increase in adjusted EBITDA for the third quarter, reaching 3.3 billion HKD, which is 4% above expectations [1] Financial Performance - Galaxy Entertainment's third-quarter adjusted EBITDA rose to 3.3 billion HKD, reflecting a 14% increase compared to the previous year [1] - The company's net cash reached 4.5 billion USD, further strengthening its financial position [1] Market Position - Credit Lyonnais believes that Galaxy Entertainment continues to have an advantage in gaining market share in revenue [1] - The company is expected to potentially increase its dividend payout ratio over the next 12 months [1] Investment Rating - Credit Lyonnais maintains a "Outperform" rating for Galaxy Entertainment with a target price of 50.5 HKD, continuing to list it as one of the top two preferred stocks in Macau [1]