Reuters: Hot Stocks: STOCKS NEWS THAILAND-Tisco upgrades Delta Electronics to buy

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STOCKS NEWS THAILAND-Tisco upgrades Delta Electronics to buy Jul 6th 2012, 04:55 Fri Jul 6, 2012 12:55am EDT Tisco Securities upgraded electronics equipment maker Delta Electronics (Thailand) Pcl to 'buy' from 'sell', reflecting strong sales of high-margin products in the second quarter and an earnings upgrade for the full year 2012. The broker raised the stock's target price to 24 baht ($0.76). Delta shares were unchanged at 22 baht, while the broader stock market was down 0.04 percent. Sales for the April to June quarter are expected to exceed $300 million, up 10 percent quarter on quarter, boosted by high-margin telecoms and power supply products, with average gross margin seen above 25.8 percent of the previous quarter, it said. "We expect Delta to maintain a gross margin of at least 25.5 percent for the year ... We have raised the 2012 operating profit forecast by 19 percent," it said in a report. 1139 (0439 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ------------------------------------------------------------ 10:33 STOCKS NEWS THAILAND: Siam Cement seen posting weak Q2; shares fall Shares in Siam Cement Pcl SCC.BK fell to their lowest in almost a week on expectations that the industrial conglomerate would report a fall in net profit for the second quarter hurt by weak results of its core petrochemical business. Siam Cement shares were down 0.93 percent at 319 baht, falling at one point to 318 baht, the lowest since July 2. The broader stock market .SETI was up 0.03 percent. Citigroup forecast Siam's net profit to fall 42 percent to 4.35 billion baht for the April-June quarter, year-on-year. "First-half estimated profit should come at 34 percent of consensus fiscal year forecast, possibly leading to further earnings downgrades and a cap on the share price in the medium term," it said in a report. Citigroup maintained its 'buy' rating on the stock, citing strong domestic consumption supporting Siam's cement and building material businesses, with a target price of 388 baht. "Non-chemical business should partly offset chemical weakness until the next cyclical upturn," it said. 1032 (0332 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 09:58 STOCKS NEWS THAILAND: Barclays starts PTTEP with overweight Barclays Capital initiates coverage on Thailand's energy firm PTT Exploration and Production Pcl PTTE.BK with an 'overweight' rating and a 12-month price target of 220 baht, offering a 23.6 percent potential upside. PTT Exploration shares closed up 0.3 percent at 178 baht on Thursday. "PTT Exploration & Production (PTT E&P), as Thailand's main oil and gas producer, offers leverage, in our view, to the tight South East Asian natural gas market, high returns and robust production growth in the medium term," Barclays said in a report. "With the shares trading at a 20 percent discount to its local market and the potential that the company does not execute its proposed bid for Cove Energy and focuses on regional exploration opportunities and/or smaller asset deals, we take a positive view," it said. 0948 (0248 GMT) Link this Share this Digg this Email Reprints

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