Reuters: Hot Stocks: STOCKS NEWS THAILAND-Thanachart raises target price for Gunkul

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STOCKS NEWS THAILAND-Thanachart raises target price for Gunkul Jun 18th 2012, 03:43 Sun Jun 17, 2012 11:43pm EDT Thanachart Securities raised its target price on power producing company Gunkul Engineering Pcl to 19.6 baht ($0.62) from 16.5 baht ($0.52) and upgraded its rating to 'buy' from 'sell', citing earnings of its wind-power producing subsidiary. Gunkul shares were up 0.7 percent at 15.6 baht. The broader market gained 1.1 percent. The broker expects Gunkul's earnings to rise after acquiring Wind Energy Development Co Ltd, which operates three wind power producing plants with a combined capacity of 60 megawatts, partially starting from 2013. Gunkul plans to expand its wind power producing capacity, boding well for further target price upgrades, the broker said in a report. "The earnings outlook for Gunkul is quite promising ... The stock valuation is relatively low compared with the industry's," it said. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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