Tuesday, March 29, 2011
Genting SP
Genting SP: Nomura maintains Reduce, TP$1.59 from $1.01. Earnings unlikely to surprise going forward, share price trapped in a narrow trading range.Raising TP to reflect the higher average EV/EBITDA multiple of its regional peers and earnings upgrade. Growing regulatory risk and diminishing growth rate could drive a de-rating of the stock.
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