GF Securities: Galaxy Entertainment (00027.HK) has a fair value of HK$36.67 per share; maintain "Buy" rating.

Zhitong Finance APP has learned that GF Securities issued a research report maintaining a "Buy" rating on Galaxy Entertainment (00027.HK). The firm believes that the company's investments in concerts, hotels, and other areas have yielded significant results, and its market share is expected to continue to rise. The firm forecasts the company's adjusted EBITDA for 2026 and 2027 to be HK$14.815 billion and HK$15.484 billion, respectively. Based on a valuation of the company's 2027 adjusted EBITDA and with reference to comparable companies, the firm assigns the company a 2027 EV/EBITDA multiple of 10.0x (on an adjusted EBITDA basis), corresponding to a fair value of HK$36.67 per share.