Sands China stock: CICC keeps HKD 13.50 target for Sands China stock

Published on 10/24/2026 at 04:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue hit USD 1.93 billion in the third quarter, up 1.4 percent year over year. Sands China stock saw property earnings fall 12.0 percent to USD 529 million.

Third-quarter margin and valuation

Sands China reported USD 1.93 billion in third-quarter revenue on October 21, 2026.
CICC maintained its Outperform rating and HKD 13.50 target on October 23, 2026.
Sands China carried an HKD 88.9 billion market capitalization as of October 23, 2026.

Sands China, KYG7800X1079, Illustration mit AI erstellt.

Sands China stock (ISIN KYG7800X1079) is being assessed against a HKD 13.50 target after CICC maintained its Outperform rating on October 23, 2026. The latest quarterly figures showed revenue growth alongside weaker profitability.

Profit trails revenue growth

According to Focus Gaming News on October 22, 2026, Sands China generated USD 1.93 billion in net revenue in the third quarter of 2026. Revenue increased 1.4 percent from the third quarter of 2025 and 8.4 percent from the second quarter.

The earnings mix was less favorable. Net income fell 29.8 percent year over year to USD 191 million, while adjusted property EBITDA declined 12.0 percent to USD 529 million. The result improved from USD 430 million in the second quarter, but it remained below the USD 600 million level recorded a year earlier.

What does the target imply?

Zhitong Finance reported on October 23, 2026 that CICC maintained its Outperform rating and HKD 13.50 target. The bank said third-quarter adjusted property EBITDA of USD 529 million was close to its USD 528 million forecast and below Visible Alpha consensus of USD 538 million.

The operating picture is mixed. Sands China's mass-market gaming revenue share reached 26.1 percent, its highest level since the fourth quarter of 2023, while rolling-chip volume rose 31 percent year over year. CICC also identified continued pressure on premium and high-end mid-market demand as a risk to the recovery.

Market value and operating milestones

For the first nine months of 2026, net revenue reached USD 5.81 billion, up 7.8 percent year over year, while net income fell 14.0 percent to USD 592 million, according to The Standard on October 22, 2026. Adjusted property EBITDA decreased 6.5 percent to USD 1.59 billion.

The HKEX-listed stock was last quoted at HKD 10.98 on October 23, 2026. Its market capitalization was HKD 88.9 billion on that date, while the 52-week range stood at HKD 10.72 to HKD 22.00. The company is renovating The Venetian Macao, with completion expected by Chinese New Year 2028.

Sands China Ltd. operates integrated resorts, casinos, hotels, retail space and convention venues in Macao. Its portfolio includes The Venetian Macao, The Londoner Macao, The Parisian Macao and Sands Macao.

The further course of trading is shown by the continuously updated real-time quote of Sands China stock.