Reuters: Hot Stocks: STOCKS NEWS THAILAND-UOB Kay upgrades Thai Air on high Q1 operating margin

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STOCKS NEWS THAILAND-UOB Kay upgrades Thai Air on high Q1 operating margin May 29th 2012, 09:00 Tue May 29, 2012 5:00am EDT UOB Kay Hian Research has upgraded Thai Airways Pcl to 'buy' from 'hold' with a target of 25.5 baht on a high first-quarter operating margin, despite a week of losses after the removal of its previous president and comments the airline might miss its full-year profit target of 6 billion baht ($189.78 million). "Thai Airways' 9.4 percent operating margin was higher than any of the full service carriers under our coverage. Furthermore, passenger traffic for April rose 8.3 percent, underpinned by high-yielding domestic traffic growth," it said in a research note. The broker also said it believes the airline will outperform the MSCI ex-Japan index, primarily due to attractive valuations. At 0852 GMT, Thai Airways was down 1.4 percent to 21.2 baht, while the main Thai index gained 1.05 percent. 1552 (0852 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) *********************************************************** 14:14 STOCKS NEWS THAILAND-BTS up as profit surges Shares in Bangkok's skytrain operator BTS Group Holdings Pcl climbed 2.63 percent to 0.78 baht during morning trade after local media reported the company's expected annual profit for 2011-2. During midsession, the company released its financial statement and reported a 2.2 billion baht ($69.59 million) in annual profit, in-line with the media report. The company had reported a profit of 310 million baht in the previous year. For the company statement, click Capital Nomura Securities maintained a 'buy' rating on the shares with a target price of 0.92 baht, citing a 20.7 percent yearly increase in passengers in April as the main driver for the share price, despite this being the lean season for public transport. BTS shares had fallen over 7 percent after local media on May 9 reported a conflict over operating concessions. Transport Minister Jarupong Ruangsuwan said the Bangkok Metropolitan Administration had broken the law in renewing the Bangkok Mass Transit System's contract to run the skytrain, the Bangkok Post reported. However, Capital Nomura said they believe the fall reflected an overly negative view from investors on the news, and the contract should not have an impact on the company's operation in the long-term. 1413 (0713 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) *********************************************************** 11:46 STOCKS NEWS THAILAND-Krungsri upgrades tech sector to overweight Krungsri Securities upgraded technology and communication sector shares from neutral to overweight against the main Thai index, on expectations that the sector will see 37 percent growth in 2012 operating results. "Businesses in the sector have a defensive quality that makes them resilient towards the high volatility of the market at the moment, since the profits depend mainly on domestic consumption," Krungsri said in a research note. "This makes them less affected by risks from uncertainties in the global economy. Also, first-quarter results were better than expected for most shares," the broker said. The broker chose Shin Corporation Pcl as its top sector pick due to its strong performance, supported by its subsidiaries, mobile operator Advanced Info Service and satellite operator Thaicom Pcl At 1127 GMT, shares in Shin Corp were up 0.9 percent at 55.75 baht, while the broader ICT index was up 0.23 percent. ICT shares have risen 26 percent so far this year. 1128 (0428 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ($1 = 31.6 Baht) Link this Share this Digg this Email Reprints

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