Wednesday, June 8, 2016

Genting Singapore

Genting Singapore: Deutche believes that share price has bottomed out, upgrade to Hold
-1Q GGR market share recovered to 45% vs 41% in previous quarters
-Deutsche estimates sizable bad debt provisions to end by 3Q16
-FY17 EBITDA expected to grow 29%y/y to $950m
-But short term catalyst is limited, as regional GGR growth remains tepid
-Future contribution from Korean resort is still two years away, and profitability in doubt due to challenging environment in Korea
-Deutsche upgrades to Hold from Sell, raises TP to $0.80 from $0.50

No comments:

Post a Comment