Genting Singapore's Medium-Term Earnings Growth Looks Sustainable -- Market Talk

Dow Jones02-26

0720 GMT - Genting Singapore's medium-term earnings growth looks sustainable, DBS Group Research analyst Jason Sum says in a research report. The integrated-resort operator's near-term earnings prospects seem bright as the continued momentum of tourist arrivals in Singapore should enable footfall at the IR to normalize by 3Q, while pent-up demand should result in higher spending per visitor, the analyst says. DBS finds Genting Singapore's risk-to-reward profile attractive, despite possible worries over the company's longer-term return on capital. DBS raises its target price for the stock to S$1.15 from S$1.05 with an unchanged buy rating. Shares are 2.7% lower at S$0.905. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

February 26, 2024 02:20 ET (07:20 GMT)

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