
Haitong International Cuts GALAXY ENT TP to HKD41.5; 1Q26 Results In Line, Rated Outperform

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Haitong International has reduced the target price for GALAXY ENTfrom HKD47.3 to HKD41.5 while maintaining an Outperform rating. The company's 1Q26 results met expectations, with net revenue of HKD12.4 billion, up 10.7% YoY, and adjusted EBITDA of HKD3.58 billion, up 8.5% YoY. GALAXY ENT's GGR increased by 16.4% YoY to HKD12.73 billion, with a market share of 19.9%. Future revenue forecasts for 2026-2028 show continued growth, with adjusted EBITDA margins projected to remain stable.
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