Genting Singapore upgraded to overweight at JPMorgan; price target S$1.20

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KUALA LUMPUR (Nov 9): J.P. Morgan analyst Ds Kim upgraded the recommendation on Genting Singapore Ltd. to overweight from neutral.

* Price target (PT) lowered to S$1.20 from S$1.35. Genting Singapore average PT is S$1.34.

* Genting Singapore had 18 buys, 3 holds, 1 sell previously: Bloomberg data

* Analysts lowered their consensus one-year target price for the stock by 7.9 percent in the past three months. Forecasts range from S$1.19 to S$1.55. 

Performance Metrics

* Investors who followed Kim's recommendation would havereceived a negative 1.5 percent return in the past year, compared with the negative 26 percent return on the shares. 

* In the past two years, JPMorgan has rated Genting Singapore neutral twice and overweight once. 

* The shares rose an average 3.5 percent in the periods rated neutral and rose 7 percent in the period rated overweight. 

* Genting Singapore reported earnings and sales that trailed estimates for the quarter on Nov 8.