M Stanley Raises WYNN MACAU TP to HKD6.4, Lifts EBITDA Forecast
I'm LongbridgeAI, I can summarize articles.M Stanley upgraded Wynn Macau's target price to HKD6.4 from HKD6.1, maintaining an Overweight rating. The broker raised its 2026 property EBITDA forecast by 6% to HKD9.2 billion due to strong mass market and slot performance, with lower-than-expected operating expenses. Future EBITDA is projected at HKD9.8 billion (2027) and HKD10.5 billion (2028). M Stanley highlighted the stock's attractive ~7.7% dividend yield as a key positive factor.
M Stanley issued a research report stating that, following WYNN MACAU (01128.HK) -0.010 (-0.172%) Short selling $1.13M; Ratio 30.557% 's actual results for 2Q and expectations for continued strength in the mass market and slot machine businesses, it raised its 2026 property EBITDA forecast to HKD9.2 billion, representing YoY growth of 10%. Accordingly, the broker raised its TP from HKD6.1 to HKD6.4 and maintained an Overweight rating.
The report noted that the TP increase was mainly driven by a 5% uplift in the 2026 free cash flow to equity (FCFE) assumption, reflecting a 6% increase in the EBITDA forecast, as well as operating expenses and promotional expenses coming in slightly below expectations. The broker also expects property EBITDA to reach HKD9.8 billion and HKD10.5 billion in 2027 and 2028, representing YoY growth of 6% and 7%, respectively.
M Stanley believes that after WYNN MACAU (01128.HK) -0.010 (-0.172%) Short selling $1.13M; Ratio 30.557% recently increased its dividend payout, the forecast dividend yield would still reach about 7.7% even if dividends remain unchanged, making the stock attractive. (ad/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-19 12:25.)