Genting Singapore's Earnings Recovery Appears to Be Underway -- Market Talk

Dow Jones2022-07-26

0437 GMT - Genting Singapore's earnings recovery seems to be underway post Singapore's reopening, says OCBC Investment Research analyst Chu Peng in a research report. Following the easing of travel restrictions, visitor arrivals to Singapore on month jumped 143% in April, 42% in May and 30% in June, reaching 35% of pre-Covid-19 levels, the analyst notes. Although China's border reopening remains uncertain, the shortfall could be partially replaced by visitors from other markets owing to strong pent-up demand, facilitating the recovery of Genting Singapore, the analyst adds. OCBC raises the stock's fair value estimate to S$0.92 from S$0.90 and maintains a buy rating. Shares are unchanged at S$0.81.(ronnie.harui@wsj.com)

$(END)$ Dow Jones Newswires

July 26, 2022 00:37 ET (04:37 GMT)

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Although China's border reopening remains uncertain, the shortfall could be partially replaced by visitors from other markets owing to strong pent-up demand, facilitating the recovery of Genting Singapore, the analyst adds. OCBC raises the stock's fair value estimate to S$0.92 from S$0.90 and maintains a buy rating. 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Following the easing of travel ...</p>\n\n<a href=\"http://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"G13.SI","symbol_name":"云顶新加坡","start_time":0,"source_url":"http://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2254941858","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2254941858","pubTimestamp":1658810220,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0437 GMT - Genting Singapore's earnings recovery seems to be underway post Singapore's reopening, sa","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"G13.SI":"云顶新加坡"},"translate_title":"云顶新加坡的盈利复苏似乎正在进行--市场传言","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"G13.SI":0.9},"content_text":"0437 GMT - Genting Singapore's earnings recovery seems to be underway post Singapore's reopening, says OCBC Investment Research analyst Chu Peng in a research report. Following the easing of travel restrictions, visitor arrivals to Singapore on month jumped 143% in April, 42% in May and 30% in June, reaching 35% of pre-Covid-19 levels, the analyst notes. Although China's border reopening remains uncertain, the shortfall could be partially replaced by visitors from other markets owing to strong pent-up demand, facilitating the recovery of Genting Singapore, the analyst adds. OCBC raises the stock's fair value estimate to S$0.92 from S$0.90 and maintains a buy rating. 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