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Positive Outlook for Genting Singapore Amid Strategic Growth Initiatives and New Attractions

Positive Outlook for Genting Singapore Amid Strategic Growth Initiatives and New Attractions

Genting Singapore (GIGNFResearch Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Wee Kuang Tay from CGS-CIMB reiterated a Buy rating on the stock and has a S$1.05 price target.

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Wee Kuang Tay has given his Buy rating due to a combination of factors influencing Genting Singapore’s potential for growth. Despite a decline in adjusted EBITDA in the first quarter of 2025, the company is expected to see a significant improvement in the second half of the year. This anticipated growth is attributed to the opening of new attractions, including a revamped all-suite hotel and a renovated Forum, which are expected to boost earnings and accommodate increased visitor numbers.
Furthermore, while the Singapore tourism sector has experienced a subdued start to the year, the introduction of these new attractions is likely to enhance Genting Singapore’s ability to capture a larger share of the market. The unchanged target price reflects confidence in the company’s strategic initiatives to drive non-gaming revenue growth, despite potential risks such as delayed openings or lower-than-expected win rates. Overall, these factors contribute to the positive outlook for Genting Singapore, justifying the Buy rating.

In another report released yesterday, DBS also maintained a Buy rating on the stock with a S$0.95 price target.

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