0207 GMT - Genting Singapore's sequential earnings growth outlook for the rest of 2024 appears bright despite its 3Q earnings being below expectations, says UOB Kay Hian. Earnings are seen supported by positive catalysts, including coming mega entertainment events and higher foreign visitations and flight frequencies recovery, analyst Jack Goh writes in a note. The integrated-resorts operator's gross gaming revenue may inch towards 2019's level on steady improvement in foreign visitors in 4Q 2024-2025, he says. However, UOB KH cuts its 2024-2025 earnings before interest, taxes, depreciation, and amortization forecasts by 16% and 7%, respectively on the weak 3Q. It trims the stock's target price to S$1.12 from S$1.18 and maintains a buy rating. Shares last at S$0.79.(amanda.lee@wsj.com)
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