CMB: Maintains "buy" rating on Galaxy Entertainment (00027.HK) and raises target price to HK$37.

JPMorgan Chase released a research report stating that Galaxy Entertainment Group (00027.HK) has clear growth prospects. The company maintains a "buy" rating and is listed as one of the top long-term choices for casino stocks. The adjusted EBITDA forecast for the current and next year has been raised by 3% to 4%, from 12.109 billion and 12.212 billion to 12.562 billion and 12.73 billion respectively. The target price has been raised from HK$36 to HK$37, as the company is believed to have attractive valuation.