Reuters: Hot Stocks: STOCKS NEWS THAILAND-Kasikorn cuts Siam City Cement to neutral

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STOCKS NEWS THAILAND-Kasikorn cuts Siam City Cement to neutral Aug 3rd 2012, 04:48 Fri Aug 3, 2012 12:48am EDT Kasikorn Securities downgraded shares of Siam City Cement Pcl to 'neutral' from 'outperform,' and lowered its price target to 315 baht from 345 baht, citing lower-than-expected first-half earnings and rising energy related costs. Thailand's second largest cement maker's shares fell 2.3 percent to 336 baht, trimming its gain so far in the second half to 2.1 percent, compared to a 1.5 percent gain of the broader stock market. The company's net profit for the first six months fell 3.9 percent to 2.09 billion baht ($66.41 million). "While the demand outlook remains robust and there are indicators suggesting there will be some operational improvements in the second half, the company is unlikely to achieve our earlier margin assumptions," it said. The broker cut its net profit estimate for 2012 and 2013 by 17 percent and 18 percent, respectively. 1121 (0421 GMT) For the company statement, click (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:50 STOCKS NEWS THAILAND-DBS ups Central Plaza Hotel price target DBS Vickers Securities raised its price target on shares of hotelier Central Plaza Hotel Pcl CENT.BK to 19.6 baht from 15.2 baht, citing an upbeat outlook for the hotel business for the second half. The broker maintained its 'buy' rating on the stock. Central Plaza shares were trading unchanged at 15.8 baht. The stock has risen 26.4 percent since July, outperforming a modest 1.8 percent gain in the broader stock market .SETI. Average hotel occupancy rate was 65 percent in the second quarter (April-June), up from last year's 58 percent, and the hotel industry, hit by last year's flooding, would continue to improve, it said. "The outlook for the second half appears favourable as the occupancy rate remained strong at 67 percent in July compared to 65 percent of last year's," the broker said in a report. The broker raised its net profit forecast for 2012 and 2013 by 30 percent and 17 percent, respectively. 1028 (0328 GMT) ($1 = 31.47 baht) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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