Reuters: Hot Stocks: STOCKS NEWS THAILAND-CP All gains on profit hopes after tie-up with LPN

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STOCKS NEWS THAILAND-CP All gains on profit hopes after tie-up with LPN Sep 10th 2012, 08:37 Mon Sep 10, 2012 4:37am EDT Shares in CP All Pcl gained 1.44 percent to 35.25 baht as brokers bet on the company's recent tie-up with leading condominium developer LPN Development to help boost its 2012 earnings. The company said on Sept. 7 that it joined a 10-year contract with LPN to initially expand its 7-Eleven branches in 10 of LPN's condominium projects. Kiatnakin Securities rated the shares 'buy' with target price of 43 baht, saying it expected the company to post a 37 percent rise in net profit in 2012 from the previous year. "[CP All] still retains its position as the number one leader in the convenient store market. We hold a positive view towards its opportunity to expand the 7-Eleven branches with the leading developer LPN. This will help CP All to reach its expansion goals and as the market leader," Kiatnakin said in a research note. Better buying power of the consumers following a minimum wage hike and a recovery in supply chain affected by last year's floods will also help boost the company's profit to about 5.59 billion baht ($179.02 million)in the second half of 2012, the broker added. 1523 (0823 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ************************************************************ 12:08 STOCKS NEWS THAILAND-LPN Development hits record high on stake sale news Leading condominium developer LPN Development Pcl surged as much as 6.29 percent to a record high of 18.60 baht, after property developer Univentures Pcl agreed to acquire LPN's stake in its unit, Grand Unity Development Co Ltd. LPN will get about 44 million baht in net profit for selling its stake in Grand Unity, said Finansia Syrus Securities in a research note. The broker upgraded LPN shares to 'speculative buy' from 'hold,' with a target price of 21.20 baht for the next year. At 0453 GMT, LPN shares were up 4.57 percent at 18.30 baht, while the main Thai index was up 0.54 percent. 1153 (0453 GMT) ($1 = 31.2 Baht) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) Link this Share this Digg this Email Reprints

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