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CLSA Initiates Coverage on NAGACORP (03918.HK) w/ Rating Outperform & TP $6.8
2026-02-11 14:29:11
NAGACORP (03918.HK) is poised to benefit from increasing foreign direct investment and a weakening USD, thanks to its regulatory moat, CLSA published a research report saying.

Coupled with improved operational efficiency and reduced financial cost burdens, the broker expected the Company's 2025-2027 earnings CAGR to reach 12%, with approx. 30% of profits allocated for dividends.

CLSA anticipated that growth in foreign direct investment and USD depreciation should drive NAGACORP's earnings growth. Cambodia also boasts one of the world's lowest gaming tax rates, supporting the Company's profitability, and the broker believed that the likelihood of a tax rate hike is low.

Therefore, CLSA initiated coverage on NAGACORP, with rating at Outperform and a target price of $6.8.
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