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Prospects for a return to international tourism for Singapore have dimmed in 2021 due to new Covid outbreaks, triggering a cut in earnings forecasts for Genting Singapore by Nomura Research.
J.P. Morgan said it has raised its FY21 estimate for Star Entertainment Group's EBITDA by 10.7 percent due to stronger revenue from Queensland and better margins. However, it has downgraded the stock from overweight to neutral with a price target of A$3.50.
Genting Singapore said its executives and senior management have agreed to pay cuts to help to offset the impact of the coronavirus on its earnings, which it warns is likely to be significant.