Genting Spore 03 (Nov 14 - Dec 20)

Re: Genting Spore 03 (Nov 14 - Dec 20)

Postby winston » Fri Mar 20, 2020 10:04 am

vested

Genting Singapore (GENS SP, BUY, TP: SGD0.64)

Write-Off 2020, Look Forward To 2021; U/G To BUY


Company Update

Upgrade to BUY from Neutral with new TP of SGD0.64 from SGD0.85, 26% upside plus c.8% yield.

Genting Singapore issued a profit guidance – 1H20 results to be adversely impacted by the COVID-19 outbreak.

While this could pose more downward pressure to share price in the near term, we see value at current prices as it has a strong war chest of SGD3.7bn to help to tide through this period.

We expect earnings to rebound in FY21F once this pandemic blows over.

Source: RHB

https://research.uobkayhian.com/content ... 74497118d1
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: Genting Spore 03 (Nov 14 - Dec 20)

Postby winston » Mon Mar 23, 2020 1:35 pm

vested

What’s New

Cut FY20/FY21 EBITDA projection by 26% and 6%

Bagging Japan IR project seems out of the question

7.5-8.0% dividend yield supported by operating cash flows and robust balance sheet

Maintain BUY with lower TP of S$0.80

Source: DBS

https://researchwise.dbsvresearch.com/R ... =fcefjkhaa
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Genting Spore 03 (Nov 14 - Dec 20)

Postby winston » Fri Mar 27, 2020 10:22 am

Genting Singapore - Receives a major lifeline (GENS SP, CP SGD0.62, BUY, TP SGD0.84, Gaming)

RWS will receive property tax rebates and be paid wage setoffs.

We estimate that GENS stands to save SGD83m-SGD203m in FY20.

These account for a very helpful 22%-54% of our FY20 earnings estimates which were lowered recently (link) to impute weak revenue due to the Covid-19 pandemic.

Our earnings estimates, BUY call and SGD0.84 EV/EBITDA based TP are unchanged for now.

We continue to like GENS for its high dividend yields (6.5% p.a.) and cheap valuations (0.9x FY20E P/BV).

Source: Kim Eng

https://www.kelive.com/KimEng/servlet/P ... &rid=51870
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston
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Re: Genting Spore 03 (Nov 14 - Dec 20)

Postby winston » Mon Apr 06, 2020 9:54 am

Genting Singapore (GENS SP)
Worth Holding Out For


The impact of COVID-19 pandemic, including Singapore’s surprise 1-month lockdown starting this Tuesday, has taken a much heavier financial toll on integrated resort operators.

Nevertheless, despite our steep earnings cut (-43%) and lower trough valuation of S$0.55 for 2020, our sensitivity analysis continues to suggest bargain price valuation and highly favourable risk-reward dynamics for longer-term investors.

Maintain BUY. Target price: S$0.80.

Source: UOBKH

https://research.uobkayhian.com/content ... 7968c319d5
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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