Genting SP - Genting Singapore raised to Outperform by Credit Suisse

Stock Name: Genting SP
Company Name: GENTING SINGAPORE PLC
Research House: Credit Suisse

Credit Suisse upgrades Genting Singapore (G13.SG) to Outperform from Underperform, raises target to $1.68 from $0.90, following “stellar” 2Q results, says Dow Jones.



Credit Suisse raises 2010, 2011 EBITDA estimates by 68%, 69%, respectively “to reflect higher casino revenues and higher EBITDA margins.”



Forecasts assume daily casino revenues fall 10% in 2H below levels seen in 2Q and that “favourable luck does not continue into 3Q10.”



Share price last +10.9% at $1.42.