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Hot stock: Genting climbs as much as 11.8% after Q3 results beat expectations 

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Vivienne Tay

Vivienne Tay

Published Tue, Nov 14, 2023 · 01:47 PM
    • The group plans to invest around S$6.8 billion to develop Resorts World Sentosa further as a tourism destination.
    • The group plans to invest around S$6.8 billion to develop Resorts World Sentosa further as a tourism destination. PHOTO: BT FILE

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    SHARES of Genting Singapore jumped as much as 11.8 per cent in heavy trading on Tuesday morning (Nov 14), after its third-quarter results released on Friday beat analyst expectations.

    Analysts have raised their target prices on the integrated resort operator, with DBS Group Research upgrading its recommendation on Genting Singapore to “buy” from “hold”.

    The counter climbed to a three-month high of S$0.95 at 10.32 am. By 1.10 pm, the group’s shares were the second-most traded by volume with 99.6 million shares changing hands. Genting Singapore was up 10.6 per cent or S$0.09 to S$0.94 by then.

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