Maybank lowers target price for Genting Singapore on VTL conditions, competition
Singapore
GENTING Singapore will likely post another year of flattish earnings amid a reduction in new land vaccinated travel lane (VTL) travellers between Singapore and Malaysia, as well as competition for premium mass gamblers from foreign peers, Maybank said.
In a research note on Monday (Jan 17), analyst Yin Shao Yang lowered the brokerage's target price for the integrated resorts operator to S$0.83 from S$0.86, after he cut core net profit estimates by 72 per cent in FY2022 and 54 per cent in FY2023.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cordlife directors offer differing views on future oversight if board is rejigged
Tesla lays off more staff in software, service teams, Electrek reports
Robinhood Crypto gets Wells notice from US SEC
Morgan Stanley strategists see inflation as key for path of US stocks
US: Wall Street opens higher as rate-cut hopes linger
Tyson raises outlook as lower costs boost chicken segment