Tuesday, July 19, 2016

Genting Singapore

Genting Singapore: (S$0.81) Appears overstretched after recent surge
- Appears a little overstretched following its recent 12% jump over the past two weeks.
- The boost may be attributed to:
1) Strong May tourist arrivals (+9.8% y/y; 5M16: +13.3%);
2) Moderating doubtful debt from 3Q16.
- Investors would be keeping their eyes peeled on the release of results by Las Vegas Sands on 27 Jul, which could provide a read through to GENS' performance in 2Q.
- The street currently has 9 Buy, 9 Hold and 3 Sell ratings on the stock, with an average TP at $0.83.

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