Analysts lower TPs on Genting Singapore after weaker-than-expected 3QFY2024 results

Analysts from CGS International, DBS Group Research and Morningstar Research have lowered their target prices on Genting Singapore (SGX:G13) (GENS) following its weaker-than-expected business update for the 3QFY2024 ended September.

CGS International kept its “add” call with a lower target price of $1.05 from $1.21 previously while DBS maintained its “buy” call with a lower target price of 95 cents, down from $1.05 previously. Morningstar also remains relatively optimistic with a “four-star rating”, while cutting its fair value estimate by 4% to 98 cents.