Lyon: Target price for MGM China (02282) “Outperform the Market” rating of HK$14.1

Zhitongcaijing · 2d ago

The Zhitong Finance App learned that Lyon released a research report saying that due to the World Cup, MGM China (02282)'s business volume and traffic declined in June, but then rebounded in July due to strong suppressed demand. The stock is currently trading at an expected EV/EBITDA of 7.1 times in 2027 and an expected dividend yield of 4.9% in 2027. The target price was HK$14.1 for a rating of “outperforming the market”.

According to the report, MGM China's property EBITDA for the second quarter of 2026 fell 7% year on year, higher than the bank's forecast and market expectations of 1%. Its rebates, investments, and daily operating expenses all fell short of the bank's forecasts, showing good discipline. The overall property EBITDA profit margin contracted 2 percentage points year over year to 27%, but it is still within the company's target range.