Singapore Stock Market News
Genting Singapore - Hope can hurt
StockFanatic
Publish date: Mon, 15 Sep 2014, 01:37 PM
StockFanatic
0 10,452
Welcome to Stockfanatic Singapore stock market and regional market news. This is a platform to share Singapore stock market and regional news to investors / man in the street. Investors can also look forward to analyst reports and brokers recommendations. Stockfanatic's Singapore stock market and regional news blog, home of investors one stop news station.
We believe investors are clinging onto GENS in hope. Hope of it somehow navigating through a mature SG gaming market and improve its returns. Hope of it investing all its cash into a lucrative overseas project and create value.
We think the stage is set for disappointment. We think the SG gaming market cannot grow and GENS will be pushed into extending more credit to VIP players to protect market share, leading to more bad debts and deterioration of returns.
Also, overseas expansion will remain in question as legislations are pushed out. In addition, consensus is too bullish (profit estimates 11-19% above ours) and valuations are too expensive (23x P/E, 2x P/B, 9x EV /EBITDA). We thus think that the downgrade cycle will continue. We downgrade GENS to Underperform with a target price of S$1.00 as we transfer coverage to Somesh Agarwal.
Read more » Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on Singapore Stock Market News
Market Commentary: Record highs on trade, vaccine developments
Created by StockFanatic | Aug 26, 2020
Market Commentary: Record highs on trade, vaccine developments
Created by StockFanatic | Aug 26, 2020
Market Commentary: Data help US market end week on a high note
Created by StockFanatic | Aug 24, 2020
Market Commentary: Data help US market end week on a high note
Created by StockFanatic | Aug 24, 2020
Market Commentary: And they are back, with S&P within inches of record high close
Created by StockFanatic | Aug 13, 2020
Market Commentary: And they are back, with S&P within inches of record high close
Created by StockFanatic | Aug 13, 2020
Market Commentary: US negotiations over stimulus continue amid diplomatic tensions
Created by StockFanatic | Aug 11, 2020
Market Commentary: US negotiations over stimulus continue amid diplomatic tensions
Created by StockFanatic | Aug 11, 2020
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Latest Videos
Apps
Top Articles
1
RHB Investment Research Reports
2
RHB Investment Research Reports
ST Engineering - Rolling Forward Our Valuation; Reiterate BUY
3
SGX Market Dialogues
Kopi-C With GuocoLand’s Group CEO: ‘We Have Twin Engines for Growth’
4
CEO Morning Brief
Singapore Home Sales Set for Worst Year Since Financial Crisis
5
CEO Morning Brief
DBS Posts 300% Growth in Semi-liquid Fund Sales in Greater China
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
