Reuters: Hot Stocks: STOCKS NEWS THAILAND-Kasikornbank hit life-high on earnings hopes

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STOCKS NEWS THAILAND-Kasikornbank hit life-high on earnings hopes Jul 3rd 2012, 06:54 Tue Jul 3, 2012 2:54am EDT Shares in Kasikornbank Pcl touched an all-time high amid expectations of strong second-quarter earnings due later this month, with the bank's loan growth outlook boding well for full-year earnings, brokers said. At the midsession break of 0530 GMT, Kasikornbank shares were up 0.9 percent at 165 baht ($5.22), having hit 166.5 baht. They were up 35.2 percent this year, outperforming a 24 percent gain of the banking industry and a 16 percent rise of the broader stock market. Maybank Kim Eng Securities said it had upgraded its 2012-13 earnings projection by 9 percent and 7 percent, respectively, and raised its target price on the stock to 175 baht from 160 baht. But it said the stock appeared expensive at these levels. "However, the share has outperformed the sector and has somewhat priced in the positive issues. We thus rate Kasikornbank as a hold," it said in a report. Twenty three out of 26 analysts tracking the bank rate it a 'buy' or 'strong buy,' with the rest giving it a 'hold'. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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