Analyst Wee Kuang Tay of CGS-CIMB reiterated a Buy rating on Genting Singapore, retaining the price target of S$1.05.
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Wee Kuang Tay’s rating is based on several key factors that suggest a positive outlook for Genting Singapore. The analyst anticipates that the company’s financial performance will improve, particularly with the expected adjusted EBITDA for the second quarter of 2025. This expectation is supported by the performance of peers like Marina Bay Sands, which reported significant growth in adjusted EBITDA despite a typically weaker season.
Additionally, Genting Singapore’s recent developments, such as the reopening of the Singapore Oceanarium and the introduction of new attractions like Minion Land, are expected to drive increased visitor footfall and spending. These enhancements, part of the RWS 1.5 project, are likely to contribute to incremental profitability improvements in the latter half of 2025. The analyst maintains a target price of S$1.05, reflecting confidence in the company’s potential for earnings growth and the revitalization of Singapore’s tourism industry.