RHB Group Research analysts express growing confidence in Resorts World Sentosa recovery

RHB Group Research analysts have raised their target price for Genting Singapore, citing an improved outlook for the integrated resort operator due to border reopening and less likelihood of further COVID-19 lockdowns.

According to a research report published late last week, the target price has risen 5 cents, from SG$0.90 to SG$0.95, based on an EV/EBITDA multiple of 8.5x compared with the previous 7.9x.

“The higher multiple reflects Genting Singapore’s better and more certain prospects, as Singapore begins to treat COVID-19 [as] endemic, reducing the probability [of] future strict lockdowns,” the analysts said.

Source: https://www.asgam.com/index.php/2022/04/11/rhb-group-research-analysts-express-growing-confidence-in-resorts-world-sentosa-recovery/