Reuters: Hot Stocks: STOCKS NEWS THAILAND-Minor International at 1-month low; earnings outlook seen unattractive

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STOCKS NEWS THAILAND-Minor International at 1-month low; earnings outlook seen unattractive May 18th 2012, 05:27 Fri May 18, 2012 1:27am EDT The country's top listed hotel and fast-food operator, Minor International Pcl, slumped 4.44 percent to its lowest in a month, while second and third quarters' earnings outlook remained unattractive, brokers said. The share price fell to 12.9 baht, having hit 12.8 baht at one point. The broader SET index was down 1.89 percent. Bualuang Securities said in addition to unattractive profit outlooks for upcoming quarters, the euro zone crisis may also drag down share prices in the near-term. The broker gave the shares a hold rating with a target price of 14.50 baht. However, Bualuang maintained the company's food business was still performing strongly, while its acquired Australian hotel chain, Oaks Hotels & Resorts Limited, would support the company's net profit for the first 5 months of this year. On Thursday, Minor International's vice president for strategic planning Chaiyapat Paitoon said he expected the company's profit and revenue for the second quarter to outperform the previous year's thanks to a rise in the average occupancy rate, while the company also planned to up its room rates by about 12 to 14 percent. 1220 (0520 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) (Editing by Robert Birsel) Link this Share this Digg this Email Reprints

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