SGX : Genting Singapore PLC

Genting Singapore PLC is the casino operator for Resorts World Sentosa, one of the 2 casinos in Singapore. The gaming industry seems to be picking up pace in Asia with Macau and Singapore in the main spotlight. The counter has came down a bit over the past week probably due to the downgrades. The recent news of the possible gaming policies tightening in Macau might just give Singapore casino a slight edge.

Recent Genting ratings are as such:

• Goldman downgrades to Sell but raises TP to $1.73 from $1.50 after results
• JP Morgan downgrades to Neutral from Overweight but TP raised to $2.00 from $1.55
• Citi keeps Buy, raise TP to $2.75 from $2.45
• DB retains Buy with TP of $2.60
• Credit Suisse retains Buy, raise TP to $2.65 from $1.68
• Daiwa keeps Buy, raise TP to $2.93 from $2.06

From a technically point of view, Genting SP is now trading at the support price of a recent ascending trendline. I would enter with a small investment at the price of $2.05.

Buy Genting SP @ $2.05.