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UOB stands pat on Genting Singapore amid ‘unexciting’ industry growth

Jude Chan
Jude Chan7/31/2017 12:10 PM GMT+08  • 2 min read
UOB stands pat on Genting Singapore amid ‘unexciting’ industry growth
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.
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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.

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