Reuters: Hot Stocks: STOCKS NEWS THAILAND-Khon Kaen Sugar up on Q2 earnings hopes

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STOCKS NEWS THAILAND-Khon Kaen Sugar up on Q2 earnings hopes Jun 12th 2012, 06:05 Tue Jun 12, 2012 2:05am EDT Shares in sugar miller Khon Kaen Sugar Industry Pcl rose as much as three percent on expectations of strong second-quarter earnings boosted by exports. At the midsession break of 0530 GMT, Khon Kaen shares were up 0.8 percent at 12.9 baht, having hit 13.2 baht, outperforming the broader stock market which fell 0.7 percent amid weakness elsewhere in Asia. Broker Phillip Securities expected the company to post a net profit of 800 million baht for February-April quarter, up 45 percent from a year earlier. It rated the stock 'buy,' with a target price of 15.8 baht. "We expect the second quarter results to be the highest of the year for KSL on the back of sales volume growth. Current sugar price slump is unlikely to affect KSL's fiscal year 2012 operating performance thanks to its forward sales contracts," the broker said in a report. 1243 (0543 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:49 STOCKS NEWS THAILAND: KGI raises EGCO target price Broker KGI Securities raised its target price on utility firm Electricity Generating Pcl EGCO.BK to 129 baht from 120 baht, reflecting the acquisition of a new power producing contract. KGI maintained its 'outperform' rating on the stock. Shares of Thailand's second-largest private power producer were up 1.4 percent at 106 baht, outperforming the broader market .SETI which fell 0.9 percent. "EGCO has been granted a new Independent Power Producer (IPP) contract of 900MW, which reinforces our positive view of the company," the broker said in a research report. "In addition, we see a number of potential catalysts including a new round of 4,500MW IPP bidding ... and new overseas acquisition," it said. For related story, click (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.6 baht) Link this Share this Digg this Email Reprints

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