KUALA LUMPUR: RHB Research has upgraded Berjaya Sports Toto Bhd to a "buy" recommendation as the Toto-betting business remains resilient under the conditional movement control order and as the government cracks down on the illegal gambling market.
The research house raised its target price to RM2.40 from RM2.31 previously after rolling forward its discounted cash flow valuation base year to FY22 to reflect post-pandemic earnings.
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