Reuters: Hot Stocks: STOCKS NEWS THAILAND-Central Plaza Hotel hits record after strong Q2

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STOCKS NEWS THAILAND-Central Plaza Hotel hits record after strong Q2 Aug 16th 2012, 04:33 Thu Aug 16, 2012 12:33am EDT Shares in Central Plaza Hotel Pcl gained as much as 5 percent to their all-time highs on Thursday after the second-quarter net profit came in above forecasts thanks to strong earnings in the company's hotel business and fast food chains. Central Plaza shares rose 4.4 percent to 16.8 baht. The stock is up 68 percent this year, well above a 19.7 percent gain of the broader SET index. Kasikorn Securities said it raised 2012 earnings per share forecast by 1 percent while keeping an 'outperform' rating as it expected strong earnings growth in 2012-13. The broker cited the stock's undemanding valuation, trading at 16.5 times forward price to earnings, below its historical average of 18.2 times. "Central Plaza remains our preferred play for Thai tourism-related stocks," the broker said. Nine analysts tracking the company rated the stock 'buy' or 'strong buy', according to Thomson Reuters Starmine. For the company statement, click 1111 (0411 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 10:10 STOCKS NEWS THAILAND-CIMB cuts Amata Corp target price CIMB Research cut its target price for Amata Corporation Pcl AMAT.BK to 23.7 baht from 25.44 baht, citing a weaker-than-expected quarterly earnings and an earnings downgrade due to high interest expense on financing land purchases and project development. Shares of the real estate company were unchanged at 16.9 baht. It has gained 34 percent in value in 2012, outperforming a 19.7 percent gain of the broader SET index .SETI. "As the first half forms just 32 percent of our 2012 forecast due to higher-than-expected interest expense, we are cutting 2012-2014 earnings per share by 7-17 percent," CIMB said. "Even after our revisions, we expect 2012 earnings per share to grow 25 percent year on year and a more robust 79 percent in 2013." The broker maintained its 'outperform' rating on the stock. 1000 (0300 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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