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NewsCIMB Research maintains Outperform on Genting Malaysia, target price RM5.10
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CIMB Research maintains Outperform on Genting Malaysia, target price RM5.10
by Cals Tue 17 Sep 2013, 10:30
CIMB Research maintains Outperform on Genting Malaysia, target price RM5.10
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 17 September 2013 09:47
KUALA LUMPUR (Sept 17): CIMB Research has maintained its Outperform rating on Genting Malaysia (GenM) at RM4.40 with a target price of RM5.10 and said the key catalysts for GenM are the further announcements on the RM3 billion capex programme and its execution.
In a note Sept 13, the research house said it recently spent a day at Resorts World Genting (RWG) to explore the membership dimension of its business, which it believes is the key driver for the mass market.
“It ensures a captive and recurring business model and maximises RWG’s monopolistic position in the Klang Valley. We maintain our FY13-15 EPS forecasts and RNAV-based target price, which is pegged at 10x FY14 EV/EBITDA for RWG’s business.
“Our Outperform rating is maintained. The key catalysts for Genting Malaysia (GENM) are the further announcements on the RM3 billion capex programme and its execution,” it said.
Business & Markets 2013
Written by theedgemalaysia.com
Tuesday, 17 September 2013 09:47
KUALA LUMPUR (Sept 17): CIMB Research has maintained its Outperform rating on Genting Malaysia (GenM) at RM4.40 with a target price of RM5.10 and said the key catalysts for GenM are the further announcements on the RM3 billion capex programme and its execution.
In a note Sept 13, the research house said it recently spent a day at Resorts World Genting (RWG) to explore the membership dimension of its business, which it believes is the key driver for the mass market.
“It ensures a captive and recurring business model and maximises RWG’s monopolistic position in the Klang Valley. We maintain our FY13-15 EPS forecasts and RNAV-based target price, which is pegged at 10x FY14 EV/EBITDA for RWG’s business.
“Our Outperform rating is maintained. The key catalysts for Genting Malaysia (GENM) are the further announcements on the RM3 billion capex programme and its execution,” it said.
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