Reuters: Hot Stocks: STOCKS NEWS THAILAND-Media shares up on digital TV hopes

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STOCKS NEWS THAILAND-Media shares up on digital TV hopes Apr 30th 2012, 04:16 Mon Apr 30, 2012 12:16am EDT Shares in media firms gained after a news report that the Thai telecoms regulator planned to open bids for digital TV, brokers said. The National Broadcasting and Telecommunications Commission (NBTC) is 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; 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 firm 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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