Reuters: Hot Stocks: STOCKS NEWS THAILAND-Citi downgrades Bangkok Bank to neutral

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS THAILAND-Citi downgrades Bangkok Bank to neutral Apr 23rd 2012, 04:15 Mon Apr 23, 2012 12:15am EDT Citigroup on Monday downgraded its rating on Bangkok Bank Pcl to "neutral" from "buy", saying the country's top lender had weak net interest margins and that its insurance product sales following last year's floods had lagged its peers. The broker took the step despite Bangkok Bank reporting a 25 percent rise in first-quarter net profit on Friday on strong loan growth, adding that the stock had limited potential for further rises. Citi raised its target share price to 200 baht from 198 baht and maintained a positive outlook on the company, however. "Bangkok Bank remains well-positioned to benefit from a capex cycle and post-flood reinvestment with its strong presence in corporate and SMEs," Citi analysts wrote in a note. At 0412 GMT, Bangkok Bank shares were down 1.04 percent at 191 baht, after marking 193 baht in early trade. (Reporting by Sinsiri Tiwutanond; sinsiri.tiwutanond.thomsonreuters.com@reuters.net)

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions