Fubon: Maintain "Buy" rating on GALAXY ENT (00027) with a target price of HK$47.

Furui Securities released a research report saying that they maintain a "buy" rating for GALAXY ENT (00027), while lowering last year's net profit forecast by 2.4%, in line with the adjusted EBITDA forecast revision. They also roughly maintain the forecast for the next two years, with a target price of 47 Hong Kong dollars. They estimate that the company's gaming revenue will increase by 7% to 10.9 billion yuan, outperforming the industry's 3% growth. This is due to the rich offerings of activities and concerts, including concerts by Liu Dehua, Dao Lang, and the South Korean girl group (G)I-DLE, as well as the continuous expansion of the Galaxy Macau Phase 3 business and the upgrade of the StarWorld Hotel with the largest-scale live table game terminals in Macau. Additionally, they expect the market to focus on the progress of the high-end mid-term business for the full-year performance, with Galaxy Gaping Palace set to open in the middle of this year.