Reuters: Hot Stocks: STOCKS NEWS THAILAND-Citi cuts Thai Bangkok Life Assurance target price

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STOCKS NEWS THAILAND-Citi cuts Thai Bangkok Life Assurance target price Apr 25th 2012, 05:01 Wed Apr 25, 2012 1:01am EDT Citigroup cut its target price on Bangkok Life Assurance (BLA.BK), Thailand's second-largest insurance firm by market value, to 44 baht ($1.42) from 46.50 baht but maintained its neutral rating. Bangkok Life shares were up 1.1 percent at 46.75 baht, having gained 1.1 percent so far this year. The insurer told analysts about a new risk-based capital adopted in September last year, resulting in higher capital charges and lower-than-expected Embedded Value (EV) and Value of New Business (VNB) calculations for 2011, the broker said. "Since we expect the asset-liability gap to remain open, we factor in a higher capital charge for 2012-14 estimate, lowering our EV by 7-8 percent. This results in a lower target price," it said. 1149 (0449 GMT) 11:21 STOCKS NEWS THAILAND-RS surges on satellite business Shares of entertainment firm RS Pcl RS.BK climbed to their highest in eight months on expectations its satellite ventures would generate a profit this year. Broker Kiatnakin Securities said it expected a turnaround at the satellite business group, with an estimated 2012 profit of 50-60 million baht ($1.61-$1.94 million) after a net loss of 60 million baht ($1.94 million) in 2011. RS shares surged almost 12 percent to 4 baht, with around 23 million shares traded, 2.4 times its average full-day volume traded over the last 30 sessions. Kiatnakin rated the stock buy, with target price of 4.30 baht. 1104 (0404 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 30.97 baht) ($1 = 30.9700 Thai baht) (Editing by Martin Petty) Link this Share this Digg this Email Reprints

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