Reuters: Hot Stocks: STOCKS NEWS THAILAND-CIMB raises Airports of Thailand target price

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STOCKS NEWS THAILAND-CIMB raises Airports of Thailand target price Aug 17th 2012, 04:30 Fri Aug 17, 2012 12:30am EDT CIMB Research raised its target price for Airports of Thailand Pcl to 90 baht from 74 baht, while keeping its 'outperform' rating on the airport operator's stock, saying the prospect of passenger fee hike was supportive to earnings. Airports of Thailand shares fell 0.4 percent to 65.5 baht. The stock has gained 46 percent in 2012 boosted by strong air traffic growth and rising earnings. Its net profit for the nine months ended June rose 70 percent to 5 billion baht ($158.60 million). The broader SET index was down 0.23 percent. It has risen 19.2 percent so far in 2012. AOT had sought a hike in passenger fee at all its airports in March and its management aimed for Sept. 13 for implementation, the broker said. "We believe chances of regulatory approval are good, potentially providing catalysts for its earnings and share price ... Despite its recent share-price run-up, AOT is still worth owning," the broker said. ($1 = 31.525 baht) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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