Genting Singapore (Danger)

Genting Singapore: UBS has Buy call, raises target to $2.02 vs $1.52 previously, after increasing EBITDA est for Resorts World Sentosa by 30%, post the group’s return to profitability in 2Q10. But cautions that upside due to the market underestimating the earnings power is now largely captured in the recent surge in share price rise. Notes that near-term risk on the stock is over-inflation of expectations.