Reuters: Hot Stocks: STOCKS NEWS THAILAND-S Khonkaen climbs to month high; index falls

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STOCKS NEWS THAILAND-S Khonkaen climbs to month high; index falls Jun 22nd 2012, 04:21 Fri Jun 22, 2012 12:21am EDT Shares of S Khonkaen Foods Pcl climbed 1.74 percent to a month's high of 73.25 baht on expectations that the meat products maker's business is less likely to be affected by the global economic slowdown. Broker DBS Vickers (Thailand) rated the shares a 'buy' with target price at 90.50 baht. "We see that their processed pork and seafood products are part of the food industry that has a strong growth outlook, while their main market is within the country, so they can take benefit from high purchasing power," DBS Vickers said. "Only 10 percent of the products are exported, therefore the global economic slowdown should only have slight negative effects on the company," the broker added. DBS Vickers also forecast S Khonkaen's profit growth for 2012 and 2013 to jump 209 percent and 23 percent, respectively. Shares in the meat products maker hit their highest at 74.25 baht during earlier trading, against a 1.01 percent fall in the main Thai index. (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com); Editing by Jijo Jacob

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