UOB sees calmer waters ahead for Genting Hongkong
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SINGAPORE (Aug 21): UOB KayHian is upgrading Genting Hongkong to “hold” with an entry and exit price of US$0.24 and US$0.26 respectively on better 2H17 revenue and occupancy for Genting Dream.
“Although significant losses would persist through 1H18, we expect EBITDA losses to narrow sequentially before turning positive in 2019, partly reflecting the likelihood of the shipyard division achieving profitability,” says lead analyst Vincent Khoo in a Monday report.
A potential final dividend should also support its... (Click here to read the full story.)