Reuters: Hot Stocks: STOCKS NEWS THAILAND-Kasikorn raises BECL's price target

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STOCKS NEWS THAILAND-Kasikorn raises BECL's price target Apr 12th 2012, 02:38 Wed Apr 11, 2012 10:38pm EDT Kasikorn Securities raised its price target on Thai road operator Bangkok Expressway Pcl to 24 baht ($0.78) from 21.4 baht ($0.69) thanks to an extra gain from the sale of investments in an energy firm and profits from a power firm. Bangkok Expressway shares ended flat at 21.70 baht ($0.70) on Wednesday and have gained 19.2 percent this year. Kasikorn maintained its outperform rating. The company would book an extra gain after tax of about 1.27 billion baht ($41.10 million) from the sale of its stake in Southeast Asia Energy (SEAN) to CK Power energy, pending shareholder approval on April 25, the broker said. "Earnings should jump in the second quarter of 2012 from the extra gain from the sale of its investment in SEAN," the broker said. Bangkok Expressway was expected to book equity income from its investment in CK Power of about 120 million baht per year, which would account for 8 percent of the broker's previous forecast for 2012 net profit, the broker said. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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