Genting Singapore's Investment Recovery Seen as Slower Than Expected — Market Talk

The pace of Genting Singapore's investments for its attractions at Resorts World Sentosa are materially slower than expected, Nomura analysts say in a note. The casino operator's shares are sharply lower after its 1Q earnings missed expectations. Nomura downgrades its rating to reduce from buy, and lowers its 2026 and 2027 net income estimates by 36% and 27%, respectively. "We acknowledge our previous bullish stance may have been premature, as the anticipated earnings inflection from new attractions has not materialized as expected," analysts say. It also lowers the stock's target price to S$0.63 from S$0.95. Shares are last 7.25% lower at S$0.64.(amanda.lee@wsj.com)