GALAXY ENT Gains 3% as G Sachs Reiterates Buy on Solid Dividend Outlook, Lowers 12-Month TP to HKD53.2
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GALAXY ENTshares rose 2.9% to HKD33.3 after G Sachs reiterated a Buy rating, citing a solid dividend outlook despite a 17% QoQ decline in adjusted EBITDA to HKD3.6 billion. The firm expects an interim dividend of at least HKD0.8 per share, yielding about 5%. GALAXY's 1Q GGR market share reached 20.2%, with management confident in maintaining dividends and managing capital expenditures. G Sachs slightly lowered its 12-month target price from HKD53.4 to HKD53.2, noting the stock's valuation is at trough levels with potential for recovery post-June.
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