Praveen Choudhary, an analyst from Morgan Stanley, maintained the Buy rating on MGM China Holdings (MCHVF – Research Report). The associated price target is HK$14.50.
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Praveen Choudhary has given his Buy rating due to a combination of factors that suggest a positive outlook for MGM China Holdings. The market seems to underestimate MGM China’s performance, as evidenced by the current 2025 consensus EBITDA estimates being significantly lower than the annualized first quarter figures. Despite maintaining a stable market share in recent months, the company’s second quarter gross gaming revenue (GGR) surpassed the first quarter both year-over-year and in absolute terms, indicating potential for upward earnings revisions.
Furthermore, Choudhary’s projections for the second quarter property EBITDA are notably higher than the consensus, suggesting that the market may not fully appreciate the company’s financial strength. He estimates a high probability of the share price rising relative to the country index in the near term, reinforcing his positive outlook. This assessment is based on subjective evaluation of the likelihood of various scenarios, highlighting the analyst’s confidence in MGM China’s future performance.
In another report released on June 24, Macquarie also maintained a Buy rating on the stock with a HK$15.70 price target.