Resorts World-
Towards its True Value!
Towards its True Value!
After some wild gyrations for a coupla days, Resorts World (Resorts) finally settled down at RM3.96 for a 6 sen loss today. The highest price attained last Friday was RM4.12. I believe RM3.96 is a fair price considering its new added value after dumping off some Star Cruises shares to Chua Ma Yu.
If the Asian markets have performed today, Resorts would certainly have gone beyond RM 4.20.
Hwang DBS-Vickers Research Sdn. have recommended a ''buy'' on the counter from the earlier ''hold'' advice while Citigroup Inc has up the value of Resorts to RM4.80. So there is plenty of upside for this counter.
Meanwhile on the broader horizon, Stanley Morgan has raised the status of the Malaysian stock market from equal weight to overweight. This is good for Bursa as more foreign funds may just come in soon.
So looks like Bursa is good for the rest of the year especially with the impending September 7th Budget and the possible snap elections in tow.
Heartsong
If the Asian markets have performed today, Resorts would certainly have gone beyond RM 4.20.
Hwang DBS-Vickers Research Sdn. have recommended a ''buy'' on the counter from the earlier ''hold'' advice while Citigroup Inc has up the value of Resorts to RM4.80. So there is plenty of upside for this counter.
Meanwhile on the broader horizon, Stanley Morgan has raised the status of the Malaysian stock market from equal weight to overweight. This is good for Bursa as more foreign funds may just come in soon.
So looks like Bursa is good for the rest of the year especially with the impending September 7th Budget and the possible snap elections in tow.
Heartsong
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