Reuters: Hot Stocks: STOCKS NEWS THAILAND-Airports of Thailand at all-time high

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STOCKS NEWS THAILAND-Airports of Thailand at all-time high Sep 25th 2012, 08:18 Tue Sep 25, 2012 4:18am EDT Shares of Airports of Thailand Pcl (AOT) rose to their all-time high as expectations of strong traffic movement in the upcoming travel season and the scheduled reopening of its Don Muang airport in October bolstered the airport operator's earnings outlook. AOT shares were up 1.3 percent at 77 baht. The stock has gained 71.1 percent so far this year, well above a 25.8 percent gain of the broader stock market. "We believe AOT will report solid traffic movement in both passenger and aircraft during this high travel season (October - March). A strong growth rate year-on-year is expected due to the low base effect from last year's flooding," broker KGI Securities said in a report. KGI said its 2013 stock price target is at 88 baht. The reopening of the Don Muang airport should help ease congestion at Bangkok's main Suvarnabhumi airport, which handled 47.8 million passengers in the year ended September 2011, against its annual capacity of 45 million, KGI said. Nine out of 11 analysts tracking the company rated the stock 'buy' or 'strong buy' and two gave 'sell' or 'strong sell', according to Thomson Reuters Starmine. 1444 (0744 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:47 STOCKS NEWS THAILAND-CIMB raises Sino Thai price target CIMB Research raised its price target for Sino Thai Engineering Pcl STEC.BK, a Thai construction company, to 28 baht from 18.5 baht, while maintaining an 'outperform' rating, citing strong prospects of revenue growth helped by infrastructure projects. Sino Thai shares were up 0.5 percent at 18.8 baht. The stock has risen 52.9 percent so far this year versus a 1.1 percent gain of Italian-Thai Development Pcl ITD.BK and a 17.2 percent rise of Ch Karnchang Pcl CK.BK. "With a strong balance sheet and solid earnings record, we believe Sino Thai will continue to outperform Italian Thai and Ch Karnchang," CIMB said in a report. "Although Sino Thai is not very close to this government, we believe there are too few contractors around to handle big government projects. And with backlogs equivalent to 2.4 years of revenue, we do not foresee major problems for Sino Thai," it said. 1139 (0439 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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