Reuters: Hot Stocks: STOCKS NEWS THAILAND-PTT up after strong Q1

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STOCKS NEWS THAILAND-PTT up after strong Q1 May 14th 2012, 04:13 Mon May 14, 2012 12:13am EDT Shares in PTT Pcl edged up after Thailand's top energy firm beat market expectations to post a record net profit due to higher income from its upstream unit, rising gas sales and improved margins on oil products. PTT shares climbed 0.6 percent to 338 baht, while the broader SET index edged up 0.22 percent. Nineteen out of 23 analysts tracking the company have given it buy or strong buy ratings, with four rating it as a hold. Broker Citigroup maintained its buy rating on the stock, with a target price of 442 baht ($14.18). "A cheap valuation and a better second-half outlook support our buy call," the broker said in a report. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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