Sands China price target lowered to HK$27.50 from HK$29 at JPMorgan

JPMorgan lowered the firm’s price target on Sands China to HK$27.50 from HK$29 and keeps an Overweight rating on the shares. “Divergence” is how the analyst characterizes Macau’s setup, both for stocks and operations. The firm continues to seek alpha by focusing on bottom-up opportunities given a lack of sector catalysts. It thinks Melco and Galaxy can be used as funding sources over the next two to three months, given consensus estimate risks.