SINGAPORE (March 4): Deutsche Bank is keeping its “sell” rating on Genting Singapore with a 50 cents target price.

The bank cutting Genting’s net profit forecast for this year by 5%, adding that it believes the share price and consensus earnings downgrades will eventually converge,

It also says it sees more risks for Genting than the market perhaps appreciates, listing higher impairments on receivables and a weakness in gaming revenue.

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