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HSBC Research: SANDS CHINA LTD (01928.HK) 1Q Results Miss; TP Dropped to $16
2025-04-25 09:38:46
SANDS CHINA LTD (01928.HK)'s 1Q25 property EBITDA was 4% below market consensus, with revenue and margin missing expectations, HSBC Global Research issued a research report saying.

Based on the lower-than-expected 1Q25 results, the broker lowered its FY2025-FY2026 EBITDA forecasts by 10-13%, and forecasted EBITDA YoY growth to turn positive only in 4Q25.

HSBC Global Research dropped its target price for SANDS CHINA LTD to $16 from $19, with rating kept at Hold, due to the lack of short-term catalysts as it expected that SANDS CHINA LTD will take time to improve its results.
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