Previously from CLSA

Tags: Genting Singapore Plc

WRITTEN BY BLOOMBERG

Share this  Digg  Del.icio.us  StumbleUpon  Netscape  Yahoo  Technorati  Googlize this  Facebook Export PDF Print E-mail Genting Singapore Plc had its share-price forecast raised to $3 from $2 at CLSA Asia Pacific Markets, which said the casino operator’s earnings growth will remain strong. Genting, operator of one of two casino resorts in the city- state, climbed 1.1% to $1.85 at 9:10 a.m. in Singapore, heading for another record close. CLSA maintained its “buy” rating on the stock.

Previously from OCBC

OCBC Investment Research ups Genting Singapore’s (G13.SG) target price to $2.38 from $1.85 after raising forecast for size of Singapore’s gaming market for 2011 to $7 billion vs $6 billion. Keeps Buy call, says Dow Jones.

To justify a price of about $2.39, GenSp needs to deliver EBITA in region of $375 million to $410 million. This is less than the EBITDA of $504 million in 2Q. So beating 2Q results is not necessary. Meeting consensus estimates is all it takes to justify $2.39.

 So CLSA's estimates of 3Q revenue of $749 million vs 2Q revenue of $860 million will translate to the same EBITDA estimate of UBS of between $375 million to $410 million.

 We are still looking at the price target of 2.38 (OCBC) or 2.39 (UBS)

For those who wants to copy and paste

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Expects 3Q EBITDA of $385 million vs $504 million in 2Q; “while the headline 24% sequential decline appears steep, 2Q margin was predicated on a very high VIP hold, while the (Marina Bay Sands) ramp up in both VIP and mass during 3Q has been rapid.” 

Says such result may disappoint market, considering stock’s rapid rise, but if RWS delivers EBITDA in region of $375 million-$410 million in 3Q, “the bigger picture story remains perfectly valid: this is a casino resort that can generate $1.6 billion of EBITDA in year one of a seven-year duopoly.” 

  Adds, any signs that 2Q VIP volumes at RWS unsustainable on structural reasons, “would be more of an issue.” Raises target to $2.39 vs $2.02, ups 2011E EBITDA by around 11%

Oh yeah? I forgot. It was only yesterday right? QE2 doesn't matter?

So why did Genting fall yesterday?

So how many per cent gain do you get when trading in GSp? Greater than 5%?

Unemployment is a big problem in many countries. A reduction will contribute in many ways to the well-being of its economy.

Go back to yesterdays's Bull's link where Chicago's University Prof Rajan talked about reducing unemployment for the long term health of USA's economy instead of small contributions of QE2 which will help the economy temporarily only.  

Here's real retro from Yusoff Islam.

http://www.youtube.com/watch?v=U5sSEkZ86ts&feature=related 

watermelon      ( Date: 28-Oct-2010 22:07) Posted: I love RETRO , how come all K POP ??