Stock Name: GENM
Company Name: GENTING MALAYSIA BERHAD
RHB Research downgraded Genting Malaysia to market perform, citing restricted share price movement due to hitches in the gaming-to-power conglomerate's expansion plans.
"We downgrade our call on Genting Malaysia to market perform (from outperform) as we believe the slower progress of legalisation and hitches encountered in its expansion plans into new geographical areas would cap share price movement at this juncture," the broker said in a research note on Friday.
RHB also cut Genting's sum-of-parts (SOP) based fair value to RM4.20 from RM4.35 after revising its discounted cash flow parameters for Malaysia and the UK.
RHB added that potential catalysts which could help re-rate the stock would be progress on the legalisation of gaming in New York and Miami and sustainable improvements in Genting UK's operations. -- Reuters
Company Name: GENTING MALAYSIA BERHAD
| Research House: RHB | Price Call: HOLD | Target Price: 4.20 |
RHB Research downgraded Genting Malaysia to market perform, citing restricted share price movement due to hitches in the gaming-to-power conglomerate's expansion plans.
"We downgrade our call on Genting Malaysia to market perform (from outperform) as we believe the slower progress of legalisation and hitches encountered in its expansion plans into new geographical areas would cap share price movement at this juncture," the broker said in a research note on Friday.
RHB also cut Genting's sum-of-parts (SOP) based fair value to RM4.20 from RM4.35 after revising its discounted cash flow parameters for Malaysia and the UK.
RHB added that potential catalysts which could help re-rate the stock would be progress on the legalisation of gaming in New York and Miami and sustainable improvements in Genting UK's operations. -- Reuters
No comments:
Post a Comment