Citigroup Initiates Coverage on GALAXY ENT with Buy Rating and HK$44 Price Target

Deep News15:50

Citigroup has issued a research report, forecasting that GALAXY ENT (00027) will achieve the largest increase in market share of EBITDA among its peers in the second quarter of this year.

According to the bank's projections, this growth is expected to be 1.7 percentage points, reaching approximately 24.2%.

The report suggests this performance will positively influence the stock's near-term price movement and has consequently added the company to its 30-day positive catalyst watchlist.

Citigroup has assigned a target price of HK$44 and a "Buy" rating.

The analysis further notes that GALAXY ENT has a significant runway for expansion ahead.

It highlights the company's plans to develop a fourth-phase project and a hotel resort, which are anticipated to be key drivers of its future growth.

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