[I-bank focus]Citi lifts Melco Int'l (00200) to HK$20

    Citi Research lifted its target price for Melco International (00200) to HK$20 from HK$19, and maintained its "buy" call.
  It said MPEL had a net cash balance of US$369m as at end of June. Management believes MPEL has sufficient financial resources to fund its capex requirement and now considers returning capital to shareholders in the form of a regular dividend, possibly as early as 2014.
  If materialized, this would be the first time that Melco receives any cash from MPEL,
which could help to narrow Melco's NAV discount, Citi noted.