Clsa Axes Galaxy Ent 00027hk Tp To 404 Still Views It As Top Pick Financial News

WEB CLSA Lowers Galaxy Entertainment Group Limited (00027HK) Price Target

CLSA Cuts GALAXY ENT Target Price to HK$4.04

Despite Downgrade, CLSA Maintains Outperform Rating for GALAXY ENT

CLSA has downgraded its target price for Galaxy Entertainment Group Limited (00027HK) from HK$4.48 to HK$4.04, citing concerns over the company's near-term outlook.

CLSA analysts said in a research note that they believe GALAXY ENT's earnings will be impacted by the ongoing COVID-19 pandemic and the travel restrictions in place in Hong Kong and Macau.

However, CLSA maintained its Outperform rating on GALAXY ENT, saying that the company remains one of its top picks in the gaming sector.

Key Takeaways:

• CLSA lowered its target price for GALAXY ENT from HK$4.48 to HK$4.04.
• The downgrade is due to concerns over the company's near-term outlook.
• CLSA maintained its Outperform rating on GALAXY ENT, saying that the company remains one of its top picks in the gaming sector.

Recent GALAXY ENT News:

• Galaxy Entertainment Group Limited (00027HK) rose 28% to HK$4.025, breaking above the 10-day moving average.
• Galaxy Entertainment Group Limited (00027HK) rose 42% to HK$3.08, breaking above the 10-day moving average.

Financial Data:

• Market Cap: HK$10.7 billion
• P/E Ratio: 15.6
• Dividend Yield: 1.5%

Disclaimer:

The information contained in this article is for informational purposes only and should not be construed as investment advice. Investors should always conduct their own due diligence before making any investment decisions.