Reuters: Hot Stocks: STOCKS NEWS THAILAND-Minor up on rising tourist arrivals

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STOCKS NEWS THAILAND-Minor up on rising tourist arrivals Jul 9th 2012, 04:26 Mon Jul 9, 2012 12:26am EDT Shares in the country's top listed hotel and fast-food operator, Minor International Pcl, gained as much as 4.8 percent to its highest in almost five years, as rising tourist arrivals lifted hopes over its earnings, brokers said. Minor shares were up 2.7 percent at 15 baht, climbing at one point to 15.3 baht, the highest since Oct. 2007, with about 14.9 million shares having changed hands, 2.1 times the average full-day volume in the last 30 days. The broader stock market was down 0.7 percent. The number of foreign tourists grew 7.5 percent year on year in the first two months of April-June quarter and the quarterly earnings outlook for hotel operators was expected to grow year on year on rising number of tourists, said Phillip Securities. "Among peers, MINT is expected to see the highest earnings growth," the broker said in a report. Its target price on the stock is 16.1 baht ($0.51). 1116 (0416 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 09:34 STOCKS NEWS THAILAND: CIMB cuts price target for Thai Oil CIMB Research cut its target price for Thai Oil Pcl TOP.BK to 69 baht ($2.18) from 76 baht and downgraded its rating on the country's biggest refiner to 'neutral' from 'outperform', reflecting the impact of oil price volatility on earnings. Thai Oil shares closed down 2.1 percent at 59.50 baht on Friday. "Thai Oil's earnings visibility is now deteriorating and its quarterly earnings volatility will increase sharply given higher inventory and the choppy oil price trend. Its core earnings of refinery and aromatics are stagnant as demand outlook remains bleak," the broker said in a report. The broker said it cut 2012-14 earnings forecasts by 5-18 percent to reflect a weak outlook of gross refinery margin. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.645 baht) Link this Share this Digg this Email Reprints

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