Reuters: Hot Stocks: STOCKS NEWS THAILAND-Quality Houses up on asset sales hopes

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STOCKS NEWS THAILAND-Quality Houses up on asset sales hopes Jun 18th 2012, 05:55 Mon Jun 18, 2012 1:55am EDT Shares in housing developer Quality Houses Pcl rose 4 percent, the biggest jump since February, outperforming other property developers and the broader market, amid expectations of strong gains from asset sales in the third quarter. At the mid-session break, Quality Houses shares were at 1.56 baht ($0.05). The property subindex gained 1.6 percent while the main SET index was up 0.8 percent. The developer plans to sell three serviced apartment buildings to a newly set-up property fund by July, broker Bualuang Securities said in a report. "Management guides that the asset divestment plan is progressing well," it said. "Assuming that QH will hold 25 percent of the property fund, we estimate a huge gain of 1.1 billion baht for the firm ... The gain will make for a record net profit in the third quarter," it said. The broker rated the stock a 'buy', with a target price of 2.2 baht. 1235 (0535 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:43 STOCKS NEWS THAILAND: Thanachart raises target price for Gunkul Thanachart Securities raised its target price on power producing company Gunkul Engineering Pcl GUNKUL.BK 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 .SETI 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. For the company statement, click (Full Story) 1017 (0317 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.505 baht) Link this Share this Digg this Email Reprints

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