Stock Name: Genting SP
Company Name: GENTING SINGAPORE PLC
Research House: HSBC
Company Name: GENTING SINGAPORE PLC
Research House: HSBC
HSBC upgrades Genting Singapore (G13.SG) to Neutral from Underweight and raises its target price to $2.16 from $1.95. The house notes the gaming stock should benefit as a defensive stock in an uncertain, inflationary environment.
“We are positive on Singapore...while we see significant evidence of inflationary pressures across the consumer sector, we note that gaming companies face far less negative pressure than F&B-focused peers,” HSBC says.
“We are positive on Singapore...while we see significant evidence of inflationary pressures across the consumer sector, we note that gaming companies face far less negative pressure than F&B-focused peers,” HSBC says.
Genting Singapore shares are down 2.5% at $1.93.
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