KUALA LUMPUR (May 10): Hong Leong Investment Bank (HLIB) Research has a “trading buy” rating on Genting Bhd (KL:GENTING) at RM4.52 with a target price of RM7.12 and said it continues to like Genting for its well-established operational presence across diverse regions, mitigating regulatory and country risks.

In a technical tracker on Friday, the research house said that at its present valuation, Genting is undervalued as it does not sufficiently capture the potential recovery of both Genting Singapore (GENS) and Genting Malaysia Bhd (KL:GENM).

“Moreover, Genting is currently trading at an 8% discount to the assessed value of its stake in GENS.

“Genting is building a base at RM4.47-4.53 support region, with indicators showing uptick bias.

“A successful breakout at RM4.60 will spur the share price towards RM4.79-4.86-4.95. Cut loss at RM4.36,” it said.