Genting SP - Genting Singapore raised to Overweight by Morgan Stanley

Stock Name: Genting SP
Company Name: GENTING SINGAPORE PLC
Research House: Morgan Stanly

Morgan Stanley upgrades Genting Singapore (G13.SG) to Overweight from Equalweight, raises target price to $1.60 from $1.06 after casino operator’s 2Q results top house’s expectations; results include first full quarter of earnings from Resorts World Sentosa, says Dow Jones.



Morgan Stanley raises both EPS, EBITDA estimates by 57%-88% for 2010, 2011, respectively.



“Further upside could come from increase in table count and junket introduction to drive VIP volume.” Says based on recent numbers, Singapore’s gaming market looks to be worth about US$4 billion ($5.4 billion).



Stock surges 11.7% to $1.43.