DJ MARKET TALK:Phillip Securities Starts Genting Singapore At Buy
14 Jan 2011 09:22

DJ MARKET TALK:Phillip Securities Starts Genting Singapore At Buy

0121 GMT [Dow Jones] STOCK CALL: Phillip Securities initiates coverage of Genting Singapore (G13.SG) with a Buy call and a target price of S$2.74 based on its EBITDA of S$2.3 billion in 2011, with enterprise value estimated at S$34.9 billion based on 15X EV/EBITDA. It expects the company to record strong revenue growth in 2011 which is likely to translate to higher earnings. "We believe better economic growth conditions, concerted efforts by the government to boost tourism figures and junkets operations are positive catalysts for Genting Singapore," it adds. The shares are down 0.9% at S$2.1. ([email protected])

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Genting SP: Perplexing Narrow 10-Cent Monthly Range So Far This Month, The Worst Since Run-Up Began In March 2009 Reflects Earnings Concerns Of Repeat Of Plunge Following Last Nov 12 Release.

AmFraser - It is still a month away to the next earnings release expected on Feb 18 and stock is stuck between $2.15 and $2.25 this month, or more precisely between $2.18 and $2.22 throughout most of past week with resistance at $2.23 and support at $2.17. Never since the March 2009 start of breakout rally from 40c to 50c, to reach a major peak then of $1.32 last January had the counter moved so narrowly. Technical signals are mostly neutral although the weekly Bollinger bands show a likely bullish directional change, if similar behaviour last May/June is repeated. At that time, the stock rose from 90c to $1.20 in July. Daily upper band is at $2.24 now as resistance with mid-band at $2.18 as support...

Attachments:

• Trading_Idea_-_Genting_Spore.pdf

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quote originally posted by bluesky11:

i assume u cut loss already

Genting SP

G13

2.030

-0.030

-1.456

85,922

5,263

2.030

2.040

11,480

2.060

2.060

2.020

174,692,210

SERV

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▼

Genting SP

G13

1.880

-0.070

-3.590

203,410

7,070

1.880

1.890

1,964

1.940

1.940

1.860

385,146,010

SERV

tues close