KUALA LUMPUR (May 17): Genting Malaysia Bhd shares rose 7.2 percent, more than any full-day gain since September 2010, as Malaysia's benchmark index advanced.
Market Metrics
* Shares advanced to RM5.34, the highest level since March 15, from RM4.98 in the previous session.
* Trading volume was more than double the 20-day average
* Move compares with the 0.3 percent gain in the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index and the less than 0.1 percent change in the MSCI AC Asia Pacific Index.
Genting Malaysia Raised to Hold at AmInvestment Bank; Price target (PT) RM5.45
Genting Malaysia Upgraded to Buy at Maybank; PT RM5.70
Market Insights
* Shares are at a 13 percent discount to the analysts' consensus target price. The stock traded at an average 8.9 percent discount over the past year.
* Maybank Kim Eng analyst Shao Yang Yin upgraded the recommendation on Genting Malaysia to buy and assigned a target price of RM5.70 today, and AmInvestment Bank analyst Gan Huey Ling upgraded the stock to hold and assigned a target price of RM5.70 on the same day.
* Stock declined 7.1 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 4.9 percent.