Reuters: Hot Stocks: STOCKS NEWS THAILAND-Earnings prospects lift KCE Electronics

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STOCKS NEWS THAILAND-Earnings prospects lift KCE Electronics Aug 3rd 2012, 08:59 Fri Aug 3, 2012 4:59am EDT Shares in electronic component maker KCE Electronics Pcl climbed to their highest in more than a year amid optimism about second-quarter results and a strong earnings recovery after last year's flooding. KCE shares were trading up 0.66 percent at 7.65 baht, having hit 7.70 baht, the highest since June 2011. The stock has risen 60 percent so far this year, outperforming a 16 percent gain of the broader stock market. Bualuang Securities raised its price target on the stock to 8.05 baht from 7 baht, while keeping a 'buy' rating. "The second-quarter core operation should bounce into black ink and the prospects for the second half are even better. Further ahead, we expect superb 2013 numbers with the full recovery of KCE Tech and a possible takeover deal," it said in a report. "There would be scope for upside from the possible acquisition of a chemical recycling firm. The acquisition would give KCE some implied natural hedging of its copper exposure and expand its overall net margin by 0.5-1 percent," it said. Thailand's widespread flooding late last year severely affected industrial estates in central provinces, including KCE's plant in the central province of Ayutthaya. The company reported weak sales in the January-March quarter because its flood hit plant was partially operational. For the company statement, click 1503 (0803 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:48 STOCKS NEWS THAILAND-Kasikorn cuts Siam City Cement to neutral Kasikorn Securities downgraded shares of Siam City Cement Pcl SCCC.BK 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 .SETI. 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 (Full Story) (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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