大华继显：降银河娱乐(00027)目标价至47港元 维持“买入”评级

Core Viewpoint - Galaxy Entertainment (00027) is expected to see a 5% quarter-on-quarter growth in normalized adjusted EBITDA for Q3 2025, despite a reduction of 140 million yuan due to Typhoon Haikui [1] Group 1: Financial Performance - The company reported strong performance in October, driven by robust foot traffic and exceptionally high win rates at VIP gaming tables, with this momentum continuing into November [1] - Management anticipates that Q4 2025 performance will slightly exceed typical seasonal fluctuations, primarily supported by high-end mass market and VIP room business [1] Group 2: Analyst Ratings - The rating for Galaxy Entertainment is maintained at "Buy," with the target price adjusted from 49 HKD to 47 HKD [1]