Reuters: Hot Stocks: STOCKS NEWS THAILAND-Bualuang expects merger to boost Kiatnakin's earnings

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STOCKS NEWS THAILAND-Bualuang expects merger to boost Kiatnakin's earnings Sep 14th 2012, 04:57 Fri Sep 14, 2012 12:57am EDT Bualuang Securities maintained its 'buy' rating on Kiatnakin Bank Pcl with a target price at 54 baht, saying its completed merger with Phatra Capital Pcl should boost the two firms' earnings. Kiatnakin shares rose 1.08 percent to 46.75 baht, having hit 47 baht earlier in the day. The banking subindex gained 2.46 percent. "For its part, Kiatnakin takes delivery of what is arguably Thailand's best investment bank, which also has a substantial wealth management operation. The merged entity should be able to achieve greater earnings growth than the two financial firms could have done in isolation," Bualuang said in a research note. "Although Kiatnakin's share price has gone up 25 percent since the merger was announced on March 30, we think it has further to rise. There is fee and underwriting income to be earned from upcoming big-ticket deals," the broker added. For the company statement, click 1141 (0414 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok, sinsiri.tiwutanond@thomsonreuters.com) ************************************************************ 11:16 STOCKS NEWS THAILAND-PTT Global Chemical hits 2-week high on Fed's QE3 Shares of PTT Global Chemical surged 4 percent to their highest in two weeks at 64 baht as brokers bet on the company to gain from the launch of further monetary easing by the U.S. Federal Reserve on Thursday. Commodities including gold, copper and oil hit multi-month highs on Friday after the Fed's aggressive moves to stimulate the world's top economy drove expectations of higher global demand for raw materials and a heightened need to hedge inflation risks. KTB Securities recommended 'speculative buy' on PTT Global Chemical and other energy shares that are set to benefit from QE3, saying "shares that will gain from the US' announcement for QE3 will have a bright outlook for short-term investment". KTB gave PTT Global Chemical a target price of 81.50 baht. Krungsri Securities gave 'accumulate' rating on petrochemical shares, and said it expected PTT Global Chemical to gain from a better petrochemical spread in paraxylene and benzene in the third quarter. At 0402 GMT, PTT Global Chemical was up 3.67 percent at 63.50 baht, while the main Thai index rose 1.52 percent. 1104 (0404 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) Link this Share this Digg this Email Reprints

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