Nomura backed up this assertion by putting Galaxy atop their latest report on the enclave’s gaming industry. Analysts Charlene Liu and Michale Shen increased their price target for the company to HK$29 (US$3.70) as they cited the “robust” growth potential of Galaxy Macau, “improving fundamentals” and “attractive valuation”, according to Macau Business. The same analysts upgraded Wynn Macau from “neutral” to “buy” as the price went up a dollar to HK$29.50 thanks to the likely approval of Wynn’s Cotai project in the near future. MGM China also got the “buy” news with a revised target price of HK$17.
Air Macau saw passenger numbers rise for the whole of 2011 with the firm is still running at just 65.8 percent of its full capacity. Jornal Tribuna de Macau report that the airline’s figure is the lowest of all those that fly to Macau with Air China – Air Macau’s largest shareholder – running at 83.2 percent of capacity and other airlines controlled by Air China using an average of 72.7 percent of capacity.