Home THE DAILY EDGE Business Genting Singapore off 0.5% after multi-year high
Genting Singapore off 0.5% after multi-year high

Tags: Genting Singapore | Genting Singapore Plc

Written by The Edge   
Thursday, 09 September 2010 12:31
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Genting Singapore (G13.SG) off 0.6% at $1.81, succumbing to light profit-taking after yesterday's multi-year high of $1.82, says Dow Jones.

Modest volume indicates underlying demand still intact, with 10-day moving average, last at $1.75, expected as support. “Although GENS has already performed very well, upside on market size expectations (for Resorts World Sentosa) and further re-rating can drive further upside in our view,” says UBS, which has Buy call with $2.02 target.

Still, after robust 2Q10 earnings performance, CIMB says growth in coming quarters should moderate, with rival Las Vegas Sands' Marina Bay Sands turning more aggressive in marketing “as it is unlikely to settle for less than its fair share of the market”.

Keeps at Outperform with $1.88 target.

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Last Updated on Thursday, 09 September 2010 12:34