Reuters: Hot Stocks: STOCKS NEWS THAILAND-Central Pattana at record on Q1,MSCI hopes

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STOCKS NEWS THAILAND-Central Pattana at record on Q1,MSCI hopes Apr 30th 2012, 05:03 Mon Apr 30, 2012 1:03am EDT Central Pattana Pcl, Thailand's largest shopping-centre developer, hit an all-time high on expectations of strong January-March results and hopes that the stock will be included in an upcoming review of the MSCI index. Broker Maybank Kim Eng Securities rated the stock an accumulative buy, with a target price of 55 baht ($1.79). At 0454 GMT, Central Pattana was up 3.1 percent at 50.50 baht. It has risen almost 34 percent this year. Maybank Kim Eng Securities said Central Pattana would post strong first-quarter results, partly boosted by revenue from flagship Central World shopping mall and the reopening of its core CentralPlaza Ladprao mall after renovation. "We expect CPN to post better earnings both quarter on quarter and year on year ... More foreign capital will tend to flow into CPN as it is likely to be added to the MSCI Thailand index, which will be announced on May 16 and effective May 31," the broker said. 1135 (0435 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Chris Lewis; viparat.jantraprapaweth@thomsonreuters.com) ****************************************** 11:16 STOCKS NEWS THAILAND-Media shares up on digital TV hopes Media companies traded higher after a news report that the Thai telecommunications regulator plans to open bidding for digital TV licences, brokers said. The National Broadcasting and Telecommunications Commission (NBTC) was considering holding digital TV licensing auctions late this year, according to the report. Broker Finansia Syrus Securities said media shares were a good speculative buy, citing the news. Among outperformers, Workpoint Entertainment Pcl gained as much as 4.1 percent to 32 baht, topping Friday's record closing high of 30.75 baht. GMM Grammy Pcl rose 2.1 percent to 23.6 baht. "It seems too early with this limited information to evaluate the benefit to the sector, but we think it's still good for speculative buying," Finansia said in a report. 1105 (0405 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Chris Lewis; viparat.jantraprapaweth@thomsonreuters.com) ****************************************** 10:17 STOCKS NEWS THAILAND-Citi raises target on PTT to 442 baht Citigroup raised its target price on PTT Pcl, Thailand's biggest energy company by market value, to 442 baht ($14.36) from 399 baht ($12.96), and maintained its "buy" rating. The brokerage upgraded its earning estimates for 2012-2014 by 25-42 percent based on higher oil price forecasts, resilient gas demand estimates and volume growth in exploration and production and petrochemicals for 2012-2014. PTT shares were trading up 0.9 percent at 347 baht at 0314 GMT, putting them up 9.1 percent for the year. The stock was currently trading at an attractive 1.4 times 2012 estimated price-to-book value, the broker said. "Despite a resilient oil price in the year to date, PTT has underperformed the SET by 8 percent in the year to date," Citigroup said in a report dated April 27. "The recent share price weakness has ignored the resiliently high oil price, fuelling earnings momentum, but has focused on the ongoing European debt concerns and the minor 5.8 billion baht write-off of its Egyptian gas pipeline investment." ($1 = 30.79 baht) 1014 (0314 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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