Reuters: Hot Stocks: STOCKS NEWS THAILAND-Pruksa up on hopes of higher sales

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STOCKS NEWS THAILAND-Pruksa up on hopes of higher sales Jun 8th 2012, 07:07 Fri Jun 8, 2012 3:07am EDT Shares in property developer Pruksa Real Estate Pcl gained more than 2 percent on expectations that demand for mid- and low-end houses would boost its sales this year. At the midsession break of 0530 GMT, Pruksa shares were up 2.26 percent at 13.6 baht ($0.43), outpacing a 0.15 percent gain of the property sector and a 0.44 percent rise of the broader market. Ten out of 21 analysts tracking the company rate the stock at 'buy' or 'strong buy,' three rating it at 'hold' and eight putting the stock at 'sell' or 'strong sell.' Broker Kasikorn Securities rated the stock 'outperform,' with target price of 21 baht. "Pruksa is our top pick in the Thai residential sector ... Pruksa has seen a decent recovery in demand at its mid- to low-end townhouses both in flood-hit and non-flooded areas and robust demand for mid-end condos," it said in a report. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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