“We leave our Genting Malaysia, Genting EPS estimates and TPs unchanged for now. With more than 10% upside potential, we upgrade Genting Malaysia, Genting to BUYs. We upgraded Genting Singapore to Buy on Feb 13, ” it said.
KUALA LUMPUR: Maybank IB Research has upgraded the Genting group to Buy as it believes the number of new Covid-19 related deaths have peaked.
It said on Thursday that as a result, the 12 month forward price-to-book value (P/BV) valuations of Genting Malaysia, Genting and Genting Singapore have troughed.
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