Reuters: Hot Stocks: STOCKS NEWS THAILAND-Ch Karnchang up on earnings outlook

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STOCKS NEWS THAILAND-Ch Karnchang up on earnings outlook Jun 11th 2012, 04:31 Mon Jun 11, 2012 12:31am EDT Shares in builder Ch Karnchang Pcl rose amid expectations of strong earnings this year boosted by projects at home and abroad, including a hydropower project in Laos. Ch Karnchang shares were up 2.2 percent at 6.9 baht, outperforming a 1.7 percent gain by the broader market. Seven out of 11 analysts tracking the company rated the stock a 'strong buy', while three put a 'hold' and one a 'strong sell'. "CK's share price is still a laggard compared to peers due to concerns about delays in construction on the Xayaburi project ... Nevertheless, management revealed that ... the company should be able to proceed smoothly on this run-off river hydropower project," broker KGI Securities said. KGI Securities rated the stock at 'outperform', with a target price of 10 baht. "We have included the Xayaburi project in our assumption and it is a key driver for revising up our 2012 earnings forecast for CK. Given the clearer view on Xayaburi and industry up-cycle, we maintain a rating of outperform," KGI said in a report. 1100 (0400 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.705 baht)

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