Reuters: Hot Stocks: STOCKS NEWS THAILAND-AAPICO Hitech at over 5-year high

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STOCKS NEWS THAILAND-AAPICO Hitech at over 5-year high Aug 28th 2012, 04:22 Tue Aug 28, 2012 12:22am EDT Shares in auto parts maker AAPICO Hitech Pcl rose to their highest in more than five years, outperforming the industry and the broader market, thanks to strong prospect of third quarter earnings boosted by its new production lines. AAPICO shares were up 2.6 percent at 19.7 baht, the highest since December 2006. The auto parts subindex rose 1.1 percent while the benchmark SET index gained 0.26 percent. AAPICO has risen 91.2 percent so far in 2012 versus a 41.9 percent gain of the auto parts subindex. It posted second-quarter earnings of 280 million baht ($8.96 million), more than five times its year-ago level due to new production lines for Suzuki New Swift and Ford Focus. Six out of seven analysts tracking the company rated the stock a 'buy' or a 'strong buy', with one having a 'strong sell' rating, according to Thomson Reuters Starmine. "We foresee AH's third quarter operating performance continues to benefit from the country's upbeat auto production," broker Phillip Securities said in a report. "According to management's guidelines, AH is expecting new project from Honda-BRIO sedan that management affirms there is remaining capacity to accommodate a 15-20 percent increased workload," the broker said. (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)

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