---
title: "In \"Major Banks,\" CICC raises the target price for WYNN MACAU to HKD 7.9 and maintains an \"Outperform\" rating"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/265056569.md"
description: "CICC released a report stating that WYNN MACAU's net income for the third quarter of 2025 reached USD 1.001 billion, a year-on-year increase of 15% and a quarter-on-quarter increase of 13%, recovering to 93% of the third quarter of 2019. Adjusted property EBITDA was USD 308 million, an annual increase of 17% and a quarterly increase of 22%. CICC maintains its forecast for adjusted EBITDA for 2025 and 2026, raising the target price by 4% to HKD 7.9, and maintains an \"outperform the industry\" rating"
datetime: "2025-11-10T01:58:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265056569.md)
  - [en](https://longbridge.com/en/news/265056569.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265056569.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/265056569.md) | [繁體中文](https://longbridge.com/zh-HK/news/265056569.md)


# In "Major Banks," CICC raises the target price for WYNN MACAU to HKD 7.9 and maintains an "Outperform" rating

CICC published a report stating that WYNN MACAU (01128.HK) announced its third-quarter 2025 results, with net revenue reaching USD 1.001 billion, a 15% increase year-on-year and a 13% increase quarter-on-quarter, recovering to 93% of the level in the third quarter of 2019. Adjusted property EBITDA reached USD 308 million, up 17% year-on-year and 22% quarter-on-quarter, recovering to 102% of the third quarter of 2019, slightly higher than the market expectation of USD 301 million.

CICC believes that WYNN MACAU's performance is mainly due to a low base effect; the market share of total gaming revenue increased from 11.8% in the second quarter of 2025 to 13% in the third quarter. The firm maintains its forecasts for adjusted EBITDA for 2025 and 2026. The stock is currently trading at a level of 7.6 times the expected EV/EBITDA for 2026. It maintains an "outperform" rating and, based on valuation adjustments, raises the target price by 4% to HKD 7.9, implying an expected EV/EBITDA of 8.4 times for 2025

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