Sands China downgraded to Neutral from Buy at Citi
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 10 2025
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Source: Business Insider
Citi Downgrade: Citi has downgraded Sands China from Buy to Neutral, lowering the price target from HK$26.30 to HK$18.50 due to lower-than-expected gaming revenue in Macau and the negative impact of U.S. tariffs on gaming demand.
Market Impact: The downgrade reflects concerns that the reduced gaming demand will persist throughout most of the first half of 2025, prompting Citi to also downgrade three other Macau gaming companies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
