The analysts note that MBS management believes it could have more upside in earnings recovery, since its 4QFY2022 ebitda was achieved with around 20% of its hotel rooms being out of service due to an ongoing renovation program.
Citi Investment Research analysts have maintained their “buy” rating for Genting Singapore with a target price (TP) of $1.04 with its Resorts World Sentosa (RWS) set to be one of “biggest beneficiaries” of Singapore’s reopening.
In their report dated Jan 26, analysts George Choi and Ryan Cheung say the ebitda recovery trajectory of competitor Marina Bay Sands (MBS) in 4QFY2022 ended December positively surprised the market, and they expect RWS to enjoy a similar recovery during the quarter.
