2022-01-16 16:03:44 SJMHY SJM Holdings
Sands China
01/16/22 01/1616:03 01/16/2216:03 | SJM Holdings downgraded to Buy from Conviction Buy at Goldman SachsGoldman Sachs analyst Simon Cheung removed SJM Holdings (SJMHY) from the firm's Conviction List, while keeping a Buy rating on the name with a price target of HK$7.90, down from HK$9.60. Cheung has switched his Macau gaming sector top preference for local stocks from SJM to Sands China (SCHYY), which is replacing SJM on the Conviction List, as he now sees more upside in the near-term for Sands China from closing its valuation discount versus peers following the release of details of the region's proposed gaming law revision. SJM does not own the 14 satellite casinos in the Macau peninsula it has been operating under revenue sharing agreements with property owners and has been given a three-year transitional period to resolve and/or terminate its satellite arrangements, Cheung noted. SJM Holdings
Sands China
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