Stock Name: GENTING
Company Name: GENTING BHD
No surprises. Genting's 9M11 results were in line. 3Q11 core earnings were rather flattish YoY and QoQ due to forex translation losses on USD denominated debt. 4Q11 earnings are expected to be the strongest due to ramping VIP volumes at Resorts World Sentosa (RWS). Maintain Hold but tweak RNAV/sh based TP lower by 1% to RM10.14. We believe Genting is fairly valued.
Maybank research (25 November 2011)
Click here for full report
Company Name: GENTING BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 10.14 |
No surprises. Genting's 9M11 results were in line. 3Q11 core earnings were rather flattish YoY and QoQ due to forex translation losses on USD denominated debt. 4Q11 earnings are expected to be the strongest due to ramping VIP volumes at Resorts World Sentosa (RWS). Maintain Hold but tweak RNAV/sh based TP lower by 1% to RM10.14. We believe Genting is fairly valued.
Maybank research (25 November 2011)
Click here for full report
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