(Feb 22): Union Gaming Research analyst Grant Govertsen downgraded the recommendation on Genting Singapore Ltd to hold from buy.
* Price target (PT) lowered to S$1.15 from S$1.30, implies 6.5% increase. Genting Singapore average PT is S$1.34.
* Genting Singapore had 22 buys, 0 holds, 0 sells previously: Bloomberg data.
* Analysts lowered their consensus one-year target price for the stock by 7.1% in the past six months. Forecasts range from S$1.15 to S$1.64.
* Investors who followed Govertsen's recommendation would have received a negative 9.9% return in the past year, compared with the negative 12% return on the shares.
* In the past six years and five months, Union Gaming has rated Genting Singapore buy three times and hold three times.
* The shares rose an average 3.8% in the periods rated buy and fell an average 9.5% in the periods rated hold.
* Genting Singapore reported earnings that trailed and sales that topped estimates for the quarter on Feb 21.