Reuters: Hot Stocks: STOCKS NEWS THAILAND-Macquarie downgrades Thai Oil

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STOCKS NEWS THAILAND-Macquarie downgrades Thai Oil Aug 27th 2012, 09:15 Mon Aug 27, 2012 5:15am EDT Macquarie Securities downgraded Thai Oil, the country's top oil refiner, to 'neutral' from 'outperform' to reflect the sector risks, despite recent gains in the stock. The broker raised its earnings per share forecast by 4 percent for 2012 and 1 percent for 2013. Macquarie's 12-month price target on the refiner is 66 baht. Thai Oil shares rose 3.4 percent to 68.50 baht on Monday. The stock has gained 21 percent in the last three months, versus a 10 percent rise of the main market. "We expect Asian complex margins to remain elevated but to trend down into year-end. By 2013 and 2014 and as global downstream fundamentals deteriorate, margins are expected to decline year on year," Macquarie said in a note dated Aug. 24. The broker said it preferred PTT Global Chemical Pcl and Esso (Thailand) and maintained 'outperform' rating on both stocks. 1530 (0830 GMT) (Reporting by Khettiya Jittapong in Bangkok; khettiya.jittapong@thomsonreuters.com) ************************************************** 11:52 STOCK NEWS THAILAND-SIAM GLOBAL AT RECORD HIGH AFTER PRIVATE OFFERING Shares in Siam Global House Pcl hit their all-time high after the building material distributor planned to sell new shares in a private offering to Siam Cement group at a 3.7 percent premium to Friday's close. Siam Global shares were up 2.2 percent at 13.8 baht, rising at one point to 13.90 baht -- their highest. The private offering is priced at 14 baht per share. Siam Cement shares were unchanged at 331 baht while the broader stock market was up 0.17 percent. Siam Cement Group would launch a partial tender offer for Siam Global shares following the share acquisition. Siam Cement's strong network in the building material business was supportive to Siam Global's growth outlook, broker DBS Vickers Securities said in a report. It rated the stock at 'buy' with target price of 15.1 baht. 1138 (0438 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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