In a Friday report, Maybank analyst Yin Shao Yang says he has trimmed core net profit estimates by 8% per annum due to higher depreciation & amortisation (D&A) forecasts, as GENS’s FY18 earnings came in at the lower-end of expectations due to higher-than-expected D&A.
SINGAPORE (Feb 22): Maybank Kim Eng, OCBC Investment Research, RHB Research and CGS-CIMB Research are maintaining their “buy” calls on Genting Singapore (GENS) with the respective target prices of $1.26, $1.31, $1.22 and $1.28.
This comes after GENS’s latest set of FY18 financials fell slightly short of, or came in at the lower-end of the first three research houses’ expectations as they did consensus estimates, even as the group’s full-year earnings grew 10% to $755.4 million from $685.6 million a year ago.
