Maybank Kim Eng upgrades Genting Malaysia to buy; price target RM3.46

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(May 24): Maybank Kim Eng analyst Shao Yang Yin upgraded the recommendation on Genting Malaysia Bhd to buy from hold.

* Price target (PT) raised to RM3.46 from RM3.40, implies 11% increase from last close. Genting Malaysia average PT is RM3.54.

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

* Analysts lowered their consensus one-year target price for the stock by 7.4% in the past six months. Forecasts range from RM2.70 to RM5.

Performance Metrics

* Investors who followed Yin's recommendation would have received a negative 14% return in the past year, compared with the negative 36% return on the shares.

* Genting Malaysia reported earnings that trailed and sales that topped estimates for the quarter on May 23.