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No one really knows actual size of Singapore’s casino gaming market, judging from 49 target price upgrades by analysts for Genting Singapore (G13.SG) as of last Thursday over past year, says Nomura, according to Dow Jones.
Nomura notes total of 76 changes have been made to target prices, including 27 downgrades over same period: “The guessing game continues with consensus price targets going as high as to imply it is worth more than the three Singapore banks and larger than the combined market caps of all the Macau-listed names.”
Nomura says frequency of upgrades shows there are lots of novelty factors at play, could take a year for euphoria to die down; “by extrapolating the street’s frequency and quantum of upgrades, the implied price target for Genting Singapore could possibly hit $10 soon.”
But sticks to its Reduce call, $1.01 target, based on average of 12x EV/EBITDA fetched by Macau operators. Shares off 1.0% at $1.97.
Post Reply
11441-11460 of 23260
1.97 as the new estimated price ?
what about the 3 dollars guy ?
BullishTempo ( Date: 14-Sep-2010 13:50) Posted:
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@ 2 dollars, ---- now queue at 1.93......
what say you ?
iPunter ( Date: 14-Sep-2010 15:06) Posted:
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now it is 1.94..
any suggestion what is the resistance or support level ?
iPunter ( Date: 14-Sep-2010 15:06) Posted:
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But many riders will thank the Lord and call it a day @2.00.
Since 2.00 is a widespread and convenient round number...
But then, whether the bull is still snorting steam through the nostrils is another matter...
Whether to ,or to short, will depend on the Lord "Chai Shen Yie"
to give you the right inspiration to act...
hehe...
No confirmation yet from TA. Better to wait as this counter may recover 2 morrow. 
elton81 ( Date: 14-Sep-2010 14:42) Posted:
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Maybe you will make a lot of money...
But if you just buy "some", then it may not be a lot..
greaselightn ( Date: 14-Sep-2010 14:35) Posted:
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how do u do shorting? im using poems.
thanks
pharoah88 ( Date: 14-Sep-2010 14:17) Posted:
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shOrt GENTING SP nOw
OtherwIse
nOmUra Is clOwnIng
loyfam88 ( Date: 14-Sep-2010 13:57) Posted:
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These analysts have their own agenda when they give such price targets. Use your own judgement.
loyfam88 ( Date: 14-Sep-2010 13:57) Posted:
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Nomura's call at $1.01. Any comments?
Are they trying to create a sell down so they can buy cheaply.
Not too long ago, I heard they are the one buying up Genting.
| STI falls 0.3% to 3,056.68 at trading break |
Tags: Ascendas REIT | Breadtalk Group | City Developments | Genting Singapore Plc | Golden Agri- Resources | JP Morgan Chase & Co | Keppel Land | Kim Eng Holdings | Morgan Stanley |Nomura Holdings | OSK (Asia) Securities | Overseas Union Enterprise
| WRITTEN BY BLOOMBERG | |||||
| TUESDAY, 14 SEPTEMBER 2010 13:02 | |||||
Singapore’s Straits Times Index fell 0.3% to 3,056.68 as of the 12:30 p.m. trading break. Two stocks dropped for each that rose on the 30-member gauge. Shares on the measure trade at an average 14.9 times estimated earnings, compared with about 17.4 times at the beginning of the year, according to Bloomberg data. The following shares were among the most active in the market. Developers: Morgan Stanley cut its ratings for City Developments (CIT SP), Singapore’s second-biggest developer, to “equal-weight” from “overweight,” saying it prefers real- estate companies that are more focused on commercial property as government policies are likely to cap the growth in residential prices. City Developments slipped 1% to $11.64. Keppel Land (KPLD SP), which Morgan Stanley raised to “overweight” from “equal-weight,” climbed 1.2% to $4.12. Overseas Union Enterprise (OUE SP), which was rated “overweight” in new coverage by the brokerage, advanced 3.1% to $3.02. Ascendas Real Estate Investment Trust (AREIT SP), an industrial landlord, declined 3.9% to $2.20. Kim Eng Holdings lowered its rating on the stock to “hold” from “buy.” Breadtalk Group (BREAD SP), the Singapore-based bakery operator, jumped 4.5% to 58 cents. JPMorgan Chase & Co. initiated coverage of the stock with an “overweight” rating and share-price forecast of 70 cents. Genting Singapore Plc (GENS SP), the operator of one of two casino resorts in the city-state, retreated 1% to $1.97. Nomura Holdings reiterated its “reduce” recommendation on the stock, saying a likely decline in third-quarter earnings could trigger a sell down. Golden Agri-Resources (GGR SP), the world’s second- biggest palm-oil producer, increased 0.8% to 60 cents. OSK (Asia) Securities raised its rating on the stock to “trading buy” from “neutral,” saying it expects the company will post strong third-quarter earnings. |