finaljeopardytoday| Morgan Stanley: Maintain SJM Holdings '"neutral" rating and raise its target price to HK$3.3

JPMorgan Chase released a research report sayingfinaljeopardytoday, maintaining the "neutral" rating of SJM Holdings (00880), its results in the first quarter of this year were stable, and both revenue and earnings performance improved. Taking into account the management's expectation to visit Lisboafinaljeopardytodaywill continue to grow its market share, raising its EBITDA forecast for fiscal year 2024 - 2025 by approximately 5%, and raising its target price from HK$3 to 3.finaljeopardytoday.3 Hong Kong dollars.

The bank said that it is currently not convinced that SJM can achieve its 5% market share target in the next few years. It also believes that SJM's deleveraging progress is disappointing and is the only one in the industry that has not yet generated significant free cash flow. Gambling operators believe that debt costs and capital expenditure burdens are relatively heavy, and valuations are expensive. Currently, SJM's profit forecast is slightly lower than market expectations.