Reuters: Hot Stocks: STOCKS NEWS THAILAND-Nomura raises SET index target to 1,440

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STOCKS NEWS THAILAND-Nomura raises SET index target to 1,440 Nov 2nd 2012, 05:02 Fri Nov 2, 2012 1:02am EDT Nomura upgraded its 12-month target on Thai SET index to 1,440, citing its inclusion of property stocks, which are seen to benefit from the government's infrastructure spending, and a positive political environment. The broker maintained a bullish view on the Thai stock market, it said in its Thailand strategy report. Nomura added Pruksa Real Estate and Quality Houses to its focus stock list which included Bangkok Bank , Kasikornbank, Siam Cement, Glow Energy and Advanced Info Service. "Political stability has returned to the country for the first time in 5 years, allowing the government to boost public spending. The private sector should continue to invest amid high utilization rates, low cost of debt, and low gearings," it said. Nomura said the SET's valuation was justifiable, with forward P/E of 11.5 times versus EPS growth of 21.6 percent for 2013, putting the market at only 0.5 times PEG, the lowest among ASEAN markets. The SET index was up 0.64 percent at 1,306.36. It has risen 27.4 percent so far in 2012, the best performing major market in Asia and among the world's top performers. 1144 (0444 GMT) (Reporting by Viparat Jantraprap in Bangkok; Editing by Jijo Jacob; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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