Credit Suisse upgrades Genting Malaysia to outperform

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(May 14): Credit Suisse analyst Danny Chan upgraded the recommendation on Genting Malaysia Bhd to outperform from neutral.

* Price target (PT) raised to RM4.10 from RM3.80, implies 32% increase from last close. Genting Malaysia average PT is RM3.55.

* Genting Malaysia had seven buys, nine holds, four sells previously: Bloomberg data.

* Analysts raised their consensus one-year target price for the stock by 2.2% in the past three months. Forecasts range from RM2.70 to RM5.

Performance Metrics

* Investors who followed Chan's recommendation would have received a negative 39% return in the past year, compared with the negative 36% return on the shares.

* In the past three years and nine months, Credit Suisse has rated Genting Malaysia neutral twice and outperform once.

* The shares rose an average 7.2% in the periods rated neutral and fell 37% in the period rated outperform.