Genting SP

Genting SP: Citi lowers TP to $1.42 from $1.47, but upgrades to Neutral from Sell. Notes GENS is currently trading at an all time low ~8.5x FY13 EV/EBITDA, hence sees lower downside risk in stock price. Expects GENS to report 2Q12 results in early Aug, forecasts revenue of $757m (+6% yoy and -3% qoq) and EBITDA of 4355m (+2% yoy and -1% qoq).