On July 16, Galaxy Entertainment (00027.HK) rose 3.06% in regular trading, trading at HK$32.1/share, with turnover of HK$103 million. The stock gained momentum following a series of bullish broker calls in recent days.
On the news front, Guangfa Securities initiated a \"Buy\" rating on July 14 with a fair value of HK$35.99/share, citing the company's significant gains in market share driven by concert events and hotel investments. Earlier, Citi placed Galaxy Entertainment on its 30-day upside catalyst watch list on July 10 with a target price of HK$44, projecting it will be the largest EBITDA market share gainer in Q2, up 1.7 percentage points to approximately 24.2%. CLSA also reiterated the stock as its sector top pick on July 13. Citi noted that Galaxy's expansion plans, including a Phase 4 development and a hotel resort project, will drive future growth.
Within the Casinos and Gaming sector, peers also traded higher, with Wynn Macau up 2.91%, MGM China up 2.58%, Sands China up 2.08%, SJM Holdings up 2.01%, and Paradise Entertainment up 8.6%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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