Reuters: Hot Stocks: STOCKS NEWS THAILAND-Citi raises Krung Thai price on strong loan growth

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 raises Krung Thai price on strong loan growth Apr 24th 2012, 05:14 Tue Apr 24, 2012 1:14am EDT Citigroup raised the target price for Krung Thai Bank to 19.5 baht from 18 baht with a buy rating, due to strong loan momentum and lower provisions. The country's second-largest lender reported a better-than-expected 16 percent rise in quarterly net profit on Monday as a result of loan growth, lower provisions and falling operating costs. Krung Thai shares have underperformed markets in recent weeks due to concerns about a possible capital raising. But the bank has said it did not need to raise capital in the near term. "We expect limited downside from capital increase and feel that capital risk is somewhat priced in from discount to peers...Nevertheless, we do not expect substantial downside even if there is capital call," the broker said in a research note. At 0500 GMT, shares in Krung Thai jumped 1.16 percent to 17.40 baht, while the main index rose 0.25 percent. (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