Reuters: Hot Stocks: STOCKS NEWS THAILAND-Thai Vegetable Oil near 2-week highs

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STOCKS NEWS THAILAND-Thai Vegetable Oil near 2-week highs Jun 11th 2012, 05:42 Mon Jun 11, 2012 1:42am EDT Shares in soybean meal producer Thai Vegetable Oil Pcl climbed as much as 3.5 percent on expectations of strong domestic soybean meal demand, supported by a resumption of Thai frozen chicken exports to Europe starting from July. At the mid-session break, Thai Vegetable Oil shares were up 3 percent to 20.7 baht, having hit 20.8 baht, the highest since May 30. The broader market was up 2.1 percent. Four out of six analysts tracking the company rated the stock a 'strong buy' while two put a 'hold'. Maybank Kim Eng Securities rated the stock a 'buy' with a target price of 30 baht, citing strong earnings outlook for the second quarter and expected good dividend payout with a dividend yield of 6.1 percent. "Soybean meal sales in the second quarter are expected to increase 5 percent quarter on quarter on strong poultry feed demand to support the EU export ban lifting," the broker said in a report. 1232 (0532 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:31 STOCKS NEWS THAILAND: Ch Karnchang up on earnings outlook Shares in builder Ch Karnchang Pcl CK.BK 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 .SETI. 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) Link this Share this Digg this Email Reprints

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