Reuters: Hot Stocks: STOCKS NEWS THAILAND-Kasikorn ups Supalai target price

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS THAILAND-Kasikorn ups Supalai target price May 3rd 2012, 04:16 Thu May 3, 2012 12:16am EDT Kasikorn Securities raised its target price on property developer Supalai Pcl 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

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions