Reuters: Hot Stocks: STOCKS NEWS THAILAND-CIMB raises Ratchaburi Electricity target price

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STOCKS NEWS THAILAND-CIMB raises Ratchaburi Electricity target price Aug 15th 2012, 02:49 Tue Aug 14, 2012 10:49pm EDT CIMB Research raised its target price for Ratchaburi Electricity Generating Holding Pcl to 54 baht from 51 baht, and kept its 'outperform' rating, after the biggest private power producer in Thailand reported better-than-expected earnings. Ratchaburi shares closed down 0.54 percent at 46.25 baht on Tuesday. They have gained 5.1 percent so far in 2012, underperforming a 19.7 percent gain in the broader SET index . "Ratch's solid second-quarter results not only reflect earnings sustainability and growth but also its shrewd investment in RATCH-Australia Corp (RAC) as it has already recovered 55 percent of its investment," the broker said. "The second-half earnings outlook remains strong on the back of a higher operating rate and RAC's contribution," it said. 0936 (0236 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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