Reuters: Hot Stocks: STOCKS NEWS THAILAND-KGI sees value in domestic plays

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-KGI sees value in domestic plays Jun 1st 2012, 08:57 Fri Jun 1, 2012 4:57am EDT Thailand's strong economy has left some select domestic plays in sectors such as bank, telecoms and property, which tend to perform in tandem with local demand, looking attractive, according to broker KGI Securities. But investors should avoid energy shares because commmodities and other riskier assets are still under pressure from global uncertainties such as the euro zone debt crisis, the broker said in its investment strategy report for June. Mid-sized Bank of Ayudhya Pcl, industrial conglomerate Siam Cement Pcl, telecoms group Shin Corporation Pcl and housing developer Asian Property Development Pcl are among its top picks. "For the month of June, the global decision point would be on June 17, when Greece is set to hold a re-election ... We believe global risk assets would consolidate ahead of the election," it said. "The overall tone of our top picks remains defensive. However, we see a few domestic beta plays having specific and attractive themes, so we added them into model portfolio," it said. 1547 (0847 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 13:06 STOCKS NEWS THAILAND: Hemaraj Land up on upbeat land sales target Shares in Hemaraj Land and Development Pcl HEMR.BK rose after the industrial land developer told analysts that it had raised its land sales target for the year thanks to strong demand. Thirteen out of 14 analysts tracking the company rate the stock at 'buy' or 'strong buy', with one rating it at 'hold'. Broker KGI Securities rated the stock 'outperform', with a target price of 3.10 baht ($0.10). Hemaraj shares were up 2.2 percent at 2.84 baht at the midsession break of 0530 GMT, outperforming the broader market .SETI which was down 1.1 percent. KGI Securities said it upgraded its 2012 earnings forecast to 2.37 billion baht, up more than five times from a year earlier. It also raised 2013 earnings forecast for the company to 3.0 billion baht, an increase of 26 percent. "After joining Hemaraj's analyst meeting, we are confident that the company will be able to show strong land sales in the second quarter and make a new land sales record of 2,000 rai this year," KGI Securities said in a report. "It has a number of potential new customers and expansion plans for existing customers. Management also guided that land sales during the second quarter remain strong, mainly from the automotive industry," it said. 1234 (0534 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) 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