Reuters: Hot Stocks: STOCKS NEWS THAILAND-Thanachart cuts target price on Siam Cement

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STOCKS NEWS THAILAND-Thanachart cuts target price on Siam Cement Apr 27th 2012, 02:53 Thu Apr 26, 2012 10:53pm EDT Thanachart Securities cut its target price on Siam Cement Pcl, Thailand's biggest industrial conglomerate, to 410 baht ($13.28) from 427 baht ($13.83), reflecting weak first quarter earnings and lower earnings forecast for the full year. The brokerage maintained its buy rating on the stock. "We believe first quarter is the trough and expect results to improve sequentially supported by higher chemical spreads and contribution from associates," the broker said in a research note. On Thursday, Siam Cement shares gained 2.4 percent, to 342 baht, putting them up 9.3 percent for the year. (Reporting by Viparat Jantraprap; Editing by Richard Borsuk) viparat.jantraprapaweth@thomsonreuters.com) ($1 = 30.885 baht)

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