Citigroup: Raises target price of Wynn Macau (01128.HK) to HK$6.25, rates it as "buy"

iFinTech News App learned that Citigroup released a research report stating that although Wynn Macau (01128.HK) had lower overall property EBITDA than expected in the first quarter of this year, its adjusted EBITDA reached $290 million, surpassing the bank's ($269 million) and the market's ($274 million) expectations. Following the latest operating trends and improved profit margin forecasts, the bank raised its target price from HK$5.55 to HK$6.25 and maintained a "buy" rating. If estimated with a dividend payout ratio of 60%, Wynn Macau's dividend yield for the full year is 5%, providing investors with a defensive choice amid macroeconomic uncertainty and trade conflicts.