Reuters: Hot Stocks: STOCKS NEWS THAILAND-Index flat, consumer shares lead

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STOCKS NEWS THAILAND-Index flat, consumer shares lead May 3rd 2012, 09:37 Thu May 3, 2012 5:37am EDT Thailand's benchmark SET index was flat in a rangebound session, with a positive outlook for domestic consumption lifting consumer shares, while foreign investors continued buying. According to traders, buying by foreign investors reached between 300 million and 600 million baht ($9.72-$19.44 million) during the morning session. The SET index stood at 1,239.01 at 0932 GMT. Among actively-traded stocks, top convenience store chain CP All Pcl rose 2.6 percent to 39.00 baht, with about 148 million shares traded, 15 times average full-day volume over the last 30 sessions. Optimism over the company's earnings outlook outweighed a raft of early selling as the stock traded ex-dividend, traders said. "Consumer names are doing quite well today and I think it's mainly a rotational play," said Teerada Charnyingyong, strategist at broker Phillip Securities. "We see some foreign inflows this morning but it's less fluid. I think a lot still depends on external factors and the debt situation in Europe." Technical signs point to further market gains in the near term to test 1,250-1,270 points, she said. 1613 (0913 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Chris Lewis; viparat.jantraprapaweth@thomsonreuters.com) ******************************************** 12:12 STOCKS NEWS THAILAND-Indorama at 1-month high on earnings hopes Shares in Thailand's Indorama Ventures Pcl IVL.BK climbed to a one-month high on expectations the country's biggest polyester producer would report profits for the January-March quarter, after a net loss in the previous quarter. Out of 17 analysts tracking the company, twelve have a buy or strong buy rating and five rate it as a hold. Higher sales and improving product margins at Indorama pointed to profits for the year, broker Bualuang Securities said in a report. "Expectations about an earnings recovery for the first quarter, improving petrochemical margins for the second quarter and its profitability outlook for the year will support its share prices, going forward," it said. Bualuang rated the stock buy, with target price of 51.5 baht ($1.67). Indorama shares were trading up 0.7 percent at 36 baht, climbing at one point to 36.75 baht. The stock has gained 23 percent this year, outpacing a 21 percent rise of the broader market .SETI. 1156 (0456 GMT) (Reporting by Viparat Jantraprap in Bangkok; editing by Sanjeev Miglani; viparat.jantraprapaweth@thomsonreuters.com) ******************************************** 11:16 STOCKS NEWS THAILAND-Kasikorn ups Supalai target price Kasikorn Securities raised its target price on property developer Supalai Pcl SPAL.BK to 18 baht ($0.58) from 17 baht ($0.55), reflecting a higher earnings per share estimate for 2012-2014 and company guidance for a higher 2012 pre-sales target. Supalai shares were trading down 0.61 percent at 16.4 baht. The stock has gained 14.7 percent so far this year. The brokerage maintained an outperform rating on the stock but cautioned that it appeared pricey. "We view its current valuation as no longer cheap and foresee limited upside of below 10 percent from the current share price level," Kasikorn said in a report. Supalai was trading at 8.8 times price to estimated 2012 earnings, versus the stock's long term mean of 5.9 times and 12.1 times for the Thai residential sector, Kasikorn said. The new target price implied a ratio of 9.7 times price to estimated 2012 earnings, it said. 1053 (0353 GMT) (Reporting by Viparat Jantraprap in Bangkok; editing by Richard Pullin; viparat.jantraprapaweth@thomsonreuters.com) ******************************************** 10:06 STOCKS NEWS THAILAND-Big C Supercenter falls due to private placement Shares in Thailand's Big C Supercenter Pcl BIGC.BK fell more than 3 percent on Thursday after the supermarkets group said it would sell new shares in a private placement at a price lower than the market. At 0300 GMT, Big C shares were down 3.3 percent at 189 baht. The main stock index .SETI was down 0.02 percent. Big C told the exchange it offered 23.6 million shares in a private placement at 176 baht ($5.70), with the subscription period running from May 3 to May 8. For company statement click (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ******************************************** 09:10 STOCKS NEWS THAILAND-Citigroup raises Big C target price Citigroup raised its target price on hypermaket operator Big C Supercenter Pcl BIGC.BK to 100 baht ($3.24) from 71 baht ($2.30), reflecting an upgrade of its 2012 earnings forecast after strong first-quarter earnings, but kept its "sell" rating. On Wednesday, Big C shares closed up 2.9 percent at 195.5 baht ($6.34) and hit an intraday record high of 197.5 baht after it reported better than expected quarterly results. For the company statement, click "Following the impressive first quarter result, we revise up our 2012-2014 estimates by 37-63 percent and target price taking into account improving rental income outlook, resilient same store sales (SSS) growth post floods, and change in funding and expansion estimates," Citi said in a report dated May 2. The brokerage said it maintained its "sell" rating on Big C due to its expensive valuation, rising competition and wage cost pressures from the minimum wage policy. "While Big C has not quantified the impact of the minimum wage policy, we believe it will face more cost pressures than other retailers in the department store and specialty segments." 0847 (0147 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Richard Pullin; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 30.86 baht) Link this Share this Digg this Email Reprints

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