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Maybank lowers Genting Singapore's TP to 83 cents with FY2022 earnings likely to be 'flattish'

Felicia Tan
Felicia Tan1/18/2022 05:47 PM GMT+08  • 3 min read
Maybank lowers Genting Singapore's TP to 83 cents with FY2022 earnings likely to be 'flattish'
"We expect Genting Singapore’s earnings to remain uninspiring for another year," says Maybank Securities analyst Yin Shao Yang.
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Maybank Securities analyst Yin Shao Yang has maintained “hold” on Genting Singapore as "grey clouds" linger around the counter.

Yin has also reduced his target price estimate to 83 cents from 86 cents previously, as he rolls his valuation base forward to end-FY2022. He has also raised his weighted average cost of capital (WACC) “a tad” to 13.1% from 12.3%.

Citing the suspension of the vaccinated travel lane (VTL) between Singapore and Malaysia by land, Yin predicts Genting Singapore’s earnings to be “flattish” for yet another year.

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