In a Monday note, lead analyst Vincent Khoo highlights that other losses, such as one-off expenses related to Genting HK’s yards, have widened for the group in 2016 – indicating uncertainty for the group’s earnings.
SINGAPORE (March 20): UOB Kay Hian is maintaining its “hold” call on Genting Hong Kong with a target price of 28 US cents (39 cents) despite noting an improvement FY16 cruise operating statistics, on the belief that the stock’s share price will remain stagnant until it achieves better earnings visibility.
The research house recommends an entry price of 24 US cents.
