Reuters: Hot Stocks: STOCKS NEWS THAILAND-Tipco Asphalt near 1-month high on strong sales hopes

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STOCKS NEWS THAILAND-Tipco Asphalt near 1-month high on strong sales hopes Aug 22nd 2012, 09:22 Wed Aug 22, 2012 5:22am EDT Shares in Tipco Asphalt Pcl climbed to their highest in almost one month following positive management guidance on its business outlook and amid expectations of strong sales for the year. Tipco Asphalt shares were up 2.6 percent at 40.25 baht. It has lost 23 percent in 2012, underperforming a 20 percent gain in the broader SET index. About 795,500 Tipco Asphalt shares changed hands on Wednesday, 3.93 times the average full-day volume over the past 30 sessions. Broker KGI Securities said it rated the stock 'outperform', with target price of 39.25 baht. "The overall tone of TASCO's analyst meeting yesterday was positive. Apart from solid bitumen demand both locally and abroad, a low crude oil price in the second quarter not only widens its third quarter gross profit margin but should also help its normalized profit grow 240 percent year on year for the quarter," it said in a report. "We now expect record high selling volume of 1.15 million tons for the year as the first half selling volume already accounted for 67 percent of our earlier target of 1 million ton," it said. One out of three analysts tracking the company rated the stock a 'buy' while two have a 'hold' rating, according to Thomson Reuters Starmine. 1605 (0905 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 15:33 STOCKS NEWS THAILAND-CIMB starts Thaicom with outperform, shares hit 7-year high CIMB Research initiated coverage of Thaicom Pcl THCOM.BK with an 'outperform' rating and a price target of 22.7 baht, citing the prospect of strong earnings growth underpinned by new satellite capacity and higher demand for television channels. Thaicom shares were up 2.94 percent at 17.5 baht, climbing at one point to 17.6 baht, the highest since May 2005. The stock has risen 71.6 percent in 2012, well above a 20.1 percent gain in the broader SET index .SETI. The broker said it expected core net profit growth of 25-91 percent for 2012-2014. "Our earnings forecasts are conservative, factoring in the gradual take-up of Thaicom 6 capacity, Thaicom 4's backlog and loss-making Mfone," it said in a report. "Potential re-rating catalysts are the bulk sale of Thaicom 4 capacity, stronger presales for Thaicom 6 and a dividend surprise." 1519 (0819 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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