Reuters: Hot Stocks: STOCKS NEWS THAILAND-Srithai Superware hits 13-year high

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STOCKS NEWS THAILAND-Srithai Superware hits 13-year high Sep 3rd 2012, 05:55 Mon Sep 3, 2012 1:55am EDT Shares in Srithai Superware Pcl jumped to their highest level in 13 years amid optimism about strong demand for its melamine and plastic products among household and industrial users. At the midsession break of 0530 GMT , Srithai shares were up 6. 2 percent at 20.7 b aht, having hit 20.8 baht earlier in the session, the highest since May 1999. The stock had risen 145 percent so far this year, far above the 20.6 percent gain in the broader SET index. Bualuang Securities has a 'buy' rating on the stock, with a target price of 28 baht. It has raised 2012 and 2013 earnings projections by an annual 16 percent each to 502 million baht ($16.02 million) and 577 million baht ($18.41 million), respectively. "The forecast of solid earnings growth is supported by stronger household product sales and solid prospects for industrial product sales ... 2013 plastic sales should jump 20 percent because the revenue contribution from PepsiCo," it said. The two analysts tracking the stock rated it a 'strong buy' and 'buy', according to Thomson Reuters StarMine. 1242 (0542 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.335 baht) Link this Share this Digg this Email Reprints

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