SINGAPORE (July 31): UOB Kay Hian is keeping its “hold” call on Genting Singapore (GENS) with an unchanged target price of $1.15 on the back of expectations of an unexciting second half in 2017.
“We expect GENS’ 2H17 earnings growth to flatline after experiencing strong recoveries in the past two quarters,” says UOB lead analyst Vincent Khoo in a report on July 27.
According to Khoo, GENS’ gaming volume should remain soft, even as impairment of receivables has largely normalised. In addition, there is now less room for the integrated resort and casino operator to surprise on operational cost savings.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
