Shares of Genting Singapore Plc climbed to its highest level in five months after Bank of America’s Merrill Lynch unit raised its share-price forecast by 15% to $1.40.

The company’s casino operations in the city-state “has not seen much dilution” since competitor Las Vegas Sands Corp. opened its casino-resoort in April, the brokerage, which maintained its “buy” rating on Genting, said in a note to clients. The stock rose 4.4% to $1.19 as of 2:45 p.m. local time, heading for its the highest since Jan. 25.