KUALA LUMPUR: GENTING BHD [] gave up its early gains on Monday, Feb 7 as investors were quick to lock in gains despite a positive outlook from CIMB Research which had raised the target price to RM15.50.
At 12.06pm, Genting was down 36 sen to RM10.98, a contrast from the early high of RM11.52.
The decline in Genting's share price weighed on the market. The FBM KLCI was just up 2.04 points to 1,533.86. Turnover was 1.46 billion shares valued at RM1.08 billion. There were 362 gainers, 332 losers and 276 stocks unchanged.
CIMB Research said it remains Overweight on the Malaysian gaming sector.
'Our SOP target price for our top pick, Genting Bhd, is nudged up from RM15.20 to RM15.50 following our target price upgrade for Genting Malaysia. We continue to view the stock as a cheaper indirect play on Singapore's potential as a regional gaming and tourism hub,' it said.
At 12.06pm, Genting was down 36 sen to RM10.98, a contrast from the early high of RM11.52.
The decline in Genting's share price weighed on the market. The FBM KLCI was just up 2.04 points to 1,533.86. Turnover was 1.46 billion shares valued at RM1.08 billion. There were 362 gainers, 332 losers and 276 stocks unchanged.
CIMB Research said it remains Overweight on the Malaysian gaming sector.
'Our SOP target price for our top pick, Genting Bhd, is nudged up from RM15.20 to RM15.50 following our target price upgrade for Genting Malaysia. We continue to view the stock as a cheaper indirect play on Singapore's potential as a regional gaming and tourism hub,' it said.
No comments:
Post a Comment