Goldman Sachs maintained a "Buy" rating on GALAXY ENT due to several positive factors highlighted in their research report. The company reported strong fourth-quarter results for FY25, with EBITDA growth of 29% quarter-over-quarter, meeting expectations and falling at the upper end of the consensus range. Additionally, GALAXY ENT declared a final dividend per share (DPS) of HKD0.8, reflecting an increased earnings payout ratio and management's intention to maintain or increase dividend distributions in the future. Goldman Sachs believes the company has sufficient financial capacity to support further dividend increases or adopt a progressive dividend policy, supported by strong free cash flow and substantial net cash reserves. Despite a slight adjustment in EBITDA forecasts and a minor reduction in the 12-month target price, the overall outlook remains positive, justifying the "Buy" rating.
