Reuters: Hot Stocks: STOCKS NEWS THAILAND-Quality Houses outperforms on strong pre-sales

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STOCKS NEWS THAILAND-Quality Houses outperforms on strong pre-sales Apr 20th 2012, 04:14 BANGKOK, April 20 | Fri Apr 20, 2012 12:14am EDT BANGKOK, April 20 (Reuters) - Shares in the residential property developer, Quality Houses Pcl rose 1.12 percent to 1.80 baht, while the main index was up 0.32 percent. Several brokers expected the company's first quarter earnings to recover on strong pre-sales performance. Krungsri Securities rated the shares a "speculative buy" with target price at 1.95 baht. "Although Quality Houses was one of the operators that was hit the hardest by the floods last year, first quarter's pre-sales and better earnings are providing a positive outlook for the rest of the year," the broker said in a research note. It projected the company to a 237 million baht ($7.68 million) first quarter net profit, as new projects and strong demand for residential assets should boost the company's pre-sales. (Reporting by Sinsiri Tiwutanond in Bangkok; Sinsiri.Tiwutanond@thomsonreuters.com) ($1 = 30.88 Baht) (Editing by Martin Petty)

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