SINGAPORE (Nov 4): The wheels of fortune are turning back in favour of Genting Singapore (GENS). Net gaming revenue and non-gaming revenue both grew, by 23% q-o-q and 17% q-o-q, respectively. Maybank Kim Eng, too, is encouraged by GENS’s “stellar” 3Q performance, but expressed concerns over gaming volumes that “remain at record low levels”. Maybank is upgrading GENS to “hold” with a marginally higher target price of 72 cents, from 71 cents previously. “The stock appears fairly valued given the limited downside to our target price,” says Yin.

Source: The Edge Markets November 04, 2016 05:53 UTC