OSK cuts Genting Singapore (G13.SG) target price to $1.13 from $1.22 on back of earnings downgrades, maintaining its “buy” rating, reported Dow Jones Newswires.
The broker cuts FY10, FY11 earnings forecasts by 6%, 3% respectively, to factor in lower-than-expected number of tables and slots in operation at gaming company’s Resorts World at Sentosa (RWS) casino, lag in ramping up of capacity.
