KUALA LUMPUR (July 25): Maybank Investment Bank Bhd has upgraded Genting Singapore to "buy" with a higher target price of S$0.85 (from S$0.83).

In a note Monday (July 25), the research house said operations recovered faster than expected even without Chinese gamblers.

“We lift FY22E earnings for GENS (Genting Singapore) by 78%.

“While our long-term earnings estimates are little changed, there is room for positive earnings revisions if China eases its zero-Covid policy,” it said.