Reuters: Hot Stocks: STOCKS NEWS THAILAND-Bualuang rates Major Cineplex as media top pick

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STOCKS NEWS THAILAND-Bualuang rates Major Cineplex as media top pick Sep 10th 2012, 09:26 Mon Sep 10, 2012 5:26am EDT Bualuang Securities rated Major Cineplex Group its top pick for the media sector, while maintaining a 'buy' rating with target price at 24.50 baht, on hopes that the company will post strong fourth-quarter earnings. "Despite subdued third quarter ticket sales, the third quarter bottom-line will be boosted by stronger onscreen ad revenue and good operating expense control... fourth quarter earnings will jump year-on-year, due to a stronger movie line-up in the fourth quarter and the low earnings in the fourth quarter last year related to the flooding," Bualuang said in a research note. The broker also said the company could post 220-230 million baht in third-quarter net profit. At 0910 GMT, shares in Major Cineplex were up 1.12 percent at 18 baht, while the main Thai index gained 0.47 percent. 1611 (0911 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ************************************************************* 15:37 STOCKS NEWS THAILAND-CP All gains on profit hopes after tie-up with LPN Shares in CP All Pcl CPALL.BK gained 1.44 percent to 35.25 baht as brokers bet on the company's recent tie-up with leading condominium developer LPN Development LPN.BK 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 LPN.BK surged as much as 6.29 percent to a record high of 18.60 baht, after property developer Univentures Pcl UV.BK 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 .SETI 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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