Genting Bhd Re-rated to TP RM10.65

Credit Suisse which gave a conservative RM6 to Genting Bhd earlier, has now re-rated it.

Their analyst has forecast  it to move toward RM10.65 as its Singapore operations performed with better than expected good earnings.

Genting's rating has also been given the ticker label from 'underperform' to 'outperform'

Tomorrow, GenM will announce its 2nd Q 2010 earnings. I expect the profits to be maintained despite the potential cannibalistic effect of Resorts World Sentosa.