Reuters: Hot Stocks: STOCKS NEWS THAILAND-Rojana Industrial rises to 10-month high

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STOCKS NEWS THAILAND-Rojana Industrial rises to 10-month high Jul 3rd 2012, 08:13 Tue Jul 3, 2012 4:13am EDT Shares in Rojana Industrial Park Pcl rose to a 10-month high on expectations its newly acquired industrial estate located in the eastern province safe from flooding last year would see strong demand, brokers said. Rojana shares were up 4.7 percent at 9 baht ($0.28), climbing at one point to 9.15 baht, the highest since Aug. 25. The broader stock market was up 0.5 percent. Rojana acquired 80 percent stake in non-listed Prosperity Industrial Estate Co Ltd in June, it told the exchange on Monday. "We view the deal as positive for Rojana. Not only will the purchase increase earnings visibility and add value to the firm, but it reduces overall risk by diversifying the range of locations," Bualuang Securities said in a report. The broker rated the stock 'buy,' with 2012 target price of 10.50 baht. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 13:54 STOCKS NEWS THAILAND: Kasikornbank hit life-high on earnings hopes Shares in Kasikornbank Pcl KBAN.BK 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 .SETB and a 16 percent rise of the broader stock market .SETI. 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'. 1330 (0630 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.595 baht) Link this Share this Digg this Email Reprints

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