SINGAPORE (Nov 24): DBS Group Research is reiterating its “buy” call for Genting Singapore with a higher target price of $1.15, citing earnings recovery and potential doubling of dividends.
Analyst Mervin Song notes that the company has the ability to increase its FY16 dividend to 6 cents per share, up from FY15’s 3 cents per share.
This is due to its cash generation and net cash position, even with the redemption of its perpetual securities and potential bid for a Japanese casino.
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