Reuters: Hot Stocks: STOCKS NEWS THAILAND-Thai Airways up on lower oil prices

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STOCKS NEWS THAILAND-Thai Airways up on lower oil prices Apr 11th 2012, 04:18 Wed Apr 11, 2012 12:18am EDT Shares in Thai Airways International Pcl gained 2.23 percent to 25.25 baht on lower fuel costs and expectations of strong earnings in the first quarter. Broker Maybank Kim Eng Securities (Thailand) rated the stock speculative buy, with target price of 31.5 baht, a potential upside of 25 percent. The airline was expected to report an operating profit of 3.0-3.5 billion baht ($96.90-$113.05 million) for the first quarter ended March due to fuel hedging and higher passenger numbers for the period, the broker said. "Investors buy the airline's shares because of weaker crude and jet fuel prices which is very correlated to earnings performance," said an analyst at Maybank Kim Eng Securities. The country's flag carrier reported a net loss of 5.39 billion baht, for the fourth quarter of 2011 because of severe floods that cut tourist numbers.

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