Reuters: Hot Stocks: STOCKS NEWS THAILAND-Big C hits record high on strong Q1

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STOCKS NEWS THAILAND-Big C hits record high on strong Q1 May 2nd 2012, 09:24 Wed May 2, 2012 5:24am EDT Shares in Big C Supercenter Pcl hit an all-time high after the hypermarket operator reported an 89 percent rise in January-March net profit, beating forecasts and prompting earnings upgrades for 2012, analysts said. "We maintain our buy call on BIGC. First quarter 2012 profit accounted for 28 percent of our full-year estimate ... We will revise up our earnings forecast and target price after joining analyst meeting this afternoon," Phannarai Tiyapittayarut, Investment Analyst of Thanachart Securities Pcl, said in a report. Big C shares were up 3.4 percent at 196.5 baht, near a record 197.5 baht hit early in the session. The company reported a quarterly net profit of 1.78 billion baht ($57.89 million), partly boosted by higher sales, and with all stores closed due to flooding in the previous quarter having reopened. For the company statement, click (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com; Editing by Chris Gallagher) ********************************************* STOCKS NEWS THAILAND-Inflows, energy plays boost Thai stocks DTAC.BK - RTRS 02-May-2012 16:02 Foreign investors further boosted their holdings of Thai stocks on Wednesday, with energy shares in strong demand, traders said. Foreign inflows were in the region of 800-900 million baht ($26.02-29.27 million) in the morning session, they said. Thailand's benchmark SET index .SETI was up 0.9 percent at 1,239.48 at 0857 GMT, a 16-year high. "Energy shares are doing pretty well today. U.S. economic recovery is supporting global oil prices and there's optimism over earnings at PTT group," said Pichai Lertsupongkij, head of investment advisory services at broker Thanachart Securities. PTT Pcl PTT.BK, the country's biggest energy company by market value, rose 2.3 percent to 359 baht, with 5.1 million shares traded, 1.47 times the average full-day volume traded over the past 30 sessions. Like other stock markets in Southeast Asia, the Thai exchange recorded net foreign inflows in April, totalling $38.4 million for the month on top of inflows of $2.7 billion of the first three months of the year, according to Thomson Reuters data. Indonesia .JKSE had $162 million in foreign inflows in April, adding to $1.1 billion in inflows in the first quarter, while the Philippines .PSI recorded inflows of $107 million in April and $964 million in the first three months, data showed. 1530 (0830 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Chris Lewis; viparat.jantraprapaweth@thomsonreuters.com) ********************************************* 13:20 STOCKS NEWS THAILAND-Robinson Department Store at 16-year highs Shares in Robinson Department Store Pcl ROBI.BK hit their highest in almost 16 years amid optimism about the earnings outlook of the department store operator. Out of 17 analysts tracking the company, nine have a buy or strong buy rating, six rate it as a hold and two have a sell and strong sell rating. At the midsession break, which began at 0530 GMT, Robinson shares were up 3.3 percent at 55 baht, climbing at one point to 55.75 baht, the highest since October 1996. Broker Trinity Securities said it upgraded the stock to buy from hold, with a target price of 63 baht ($2.05). The broker forecast a 30 percent increase in January-March earnings citing a spending spree, a recovery in tourism and revenue from new stores. Broker KGI Securities said it raised its full-year earnings forecast by 2 percent to 2.15 billion baht ($69.92 million), reflecting better-than-expected new store sales growth. "The improved number would be mainly from consistent launches of marketing activities and a new product mix that would draw consumer attention to the mall and reduce cannibalization on its nearby malls," KGI said in a report. 1253 (0553 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Richard Borsuk) (viparat.jantraprapaweth@thomsonreuters.com) ********************************************* 12:39 STOCKS NEWS THAILAND-Thanachart lowers PTTEP target price Thanachart Securities lowered its target price on PTT Exploration and Production Pcl PTTE.BK, Thailand's second-biggest energy firm by market value, to 175 baht ($5.69) from 176 baht ($5.72) and maintained its hold rating. PTTEP shares were trading up 0.56 percent at 179 baht, coming off an intraday high of 180.5 baht. The stock has gained 5.9 percent this year, underperforming broader market's .SETI 20.6 percent climb and a 10.6 percent rise in the energy subindex .SETEN on concern about a possible capital increase to help fund a bid for Cove Energy COVE.L. Royal Dutch Shell agreed in April to acquire Cove for $1.8 billion, raising its offer match a bid by PTTEP, which has said it is considering its options. "Although a capital increase may be delayed as the likelihood of a counterbid for Cove is minimal, the issue will remain as a share price overhang this year as the company seeks major acquisitions to meet its production target," the broker said in a report. "Despite a strong first quarter 2012 and an upgrade to earnings, we see no catalysts for the share price," it said. 1220 (0520 GMT) (Reporting by Viparat Jantraprap in Bangkok; editing by Richard Pullin; viparat.jantraprapaweth@thomsonreuters.com) ********************************************* 10:26 STOCKS NEWS THAILAND-Citi raises target price on Thai Oil Citigroup raised its target price on Thai Oil Pcl TOP.BK, Thailand's biggest oil refiner, to 78 baht ($2.54) from 75 baht ($2.44) and maintained its buy rating. The brokerage expected the earnings outlook for Thai Oil in 2012 to remain positive thanks to higher paraxylene output from August 2012 -- a completion of aromatics upgrading project, inventory gain, and corporate tax saving. Thai Oil shares were trading up 2.6 percent at 69.25 baht by 0325 GMT. They have gained around 18 percent so far this year. Thai Oil's valuation looked attractive at 8.7 times 2012 estimated price to earnings versus regional peer average of 11.3 times, Citigroup said. The refiner would also benefit from a lower corporate tax rate of 23 percent this year, compared with the normal 30 percent rate. "TOP has derated by 12 percent from its 2012 peak in February, partly reflecting its crude disadvantage versus Singapore gross refining margin (GRM). However, we believe near-term earnings should be largely supported by inventory gain and lower effective tax rate," the broker said in a report dated April 30. 1019 (0319 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Kim Coghill; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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