Genting Singapore (G13.SG) pares gains, flat at $0.96 vs $0.975 (+1.6%) earlier, mirroring sluggish performance by most other STI components, according to Dow Jones.
Having rebounded 12.9% from April bottom of $0.85, recent buying activity has been subdued, with volume dwindling since last Thursday. With gaming group’s 1Q10 results due May 13, any further upside likely to be minimal pending management update on Resorts World Sentosa’s performance since opening earlier this year.
“Shares could trend higher on the release of potentially strong results on 13 May, but shares could also ease thereafter on concerns of RWS’ ability to sustain results,” says UOB KayHian, which has Sell call with $0.88 target; forecasts net profit of $50 million, suggests selling on recent strength.
Orderbook quotes suggest minimal upside beyond $0.98.
“Shares could trend higher on the release of potentially strong results on 13 May, but shares could also ease thereafter on concerns of RWS’ ability to sustain results,” says UOB KayHian, which has Sell call with $0.88 target; forecasts net profit of $50 million, suggests selling on recent strength.
Orderbook quotes suggest minimal upside beyond $0.98.
(Source: The Edge Singapore)
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