Analyst Wee Kuang Tay of CGS-CIMB reiterated a Buy rating on Genting Singapore, with a price target of S$0.79.
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Wee Kuang Tay’s rating is based on several key considerations. Despite the anticipated subdued earnings growth in the second half of 2025 due to increased sales and marketing expenses for new attractions, Genting Singapore is expected to see a recovery in earnings by fiscal year 2026. The company is benefiting from the complete opening of RWS1.5 attractions, which is likely to boost footfall and non-gaming revenues, although these effects may take some time to fully materialize.
Furthermore, the stock is considered attractively valued, trading at 5.2 times the 12-month forward EV/EBITDA, with a dividend yield of approximately 5.5%. The potential for improved profitability from fiscal year 2026 and the possibility of regaining gaming market share contribute to the positive outlook. However, the report also notes potential risks, such as a sluggish tourism outlook and lower-than-expected win rates, which could impact visitor numbers and spending in Singapore.
GIGNF’s price has also changed slightly for the past six months – from $0.523 to $0.571, which is a 9.18% increase.