Shares in Banpu Pcl pared their earlier gain of 1.4 percent after Thailand’s top coal miner cut its 2012 coalsales and revenue targets because of a decline in prices andglobal economic uncertainty.
Ithas fallen 19 percent so far this year, underperforming thebroader market’s 15.8 percent gain for the year, as weak coalprices weighed on the company’s earnings prospect.1532 (0832 GMT)(Reporting by Viparat Jantraprap in Bangkok;viparat.)************************************************************12:49 STOCKS NEWS THAILAND: Total Access rises to 1 weekhigh after dividend planShares in telecoms operator Total Access Communication PclDTAC.
BK rose to a one week high after its higher dividend planand amid optimism about earnings outlook.
At the mid session break of 0530 GMT, Total Access shareswere up 3.45 percent at 82.5 baht, climbing at one point to82.75 baht, outperforming telecoms peers, including AdvancedInfo Service Pcl ADVA.
It announced an interim dividend of 2.27 baht, a 92 percentpayout ratio of its earnings for the first six months and raisedits dividend payout ratio to a minimum of 80 percent of netprofit which will be paid on a quarterly basis.
KGI Securities raised the target price on Thailand’sfourth largest lender Kasikornbank Pcl to 200 baht($6.31) from 190 baht, and maintained a n ‘outperform’, citingstrong earnings in the first six months of this year.
(Full Story)”This implies the firm is more confident about its long termearnings outlook and strong cash flow,” KGI Securities said in areport.
For instance, the IRS uses the term profit to describe earnings, whereas for the corporation the profit it reports is the amount left after taxes are taken out.
The broker rated the stock ‘outperform’, with a target priceof 100 baht, citing the prospect of earnings recovery for thesecond half after the company reported a 6.5 percent fall inquarterly net profit on Monday.
BKto 69 baht ($2.18) from 76 baht and downgraded its rating on thecountry’s biggest refiner to ‘neutral’ from ‘outperform’,reflecting the impact of oil price volatility on earnings.
(Full Story)”We still like DTAC as it would be the key beneficiary fromthe 3G licensing and it offers a high dividend yield,” it said.1237 (0537 GMT)(Reporting by Viparat Jantraprap in Bangkok;viparat.)************************************************************11:00 STOCKS NEWS THAILAND: PTTEP near 2 month lows after Q2disappointmentShares in Thailand’s top oil and gas explorer PTTExploration and Production Pcl PTTE.
BK (PTTEP) fell to theirlowest in almost two months after the company missed marketexpectations with a 31 percent fall in quarterly net profit.
PTTEP shares were down 0.63 percent at 156.5 baht ($4.92),having hit 155 baht earlier, the lowest since June 1.
“The weaker than expected result was mainly due tonon recurring expenses. In the near term, the share priceweakness should be due to the weak results and its capitalraising plan,” broker Globlex Securities said in a researchnote.
The broker rated the stock ‘buy’, with target price of 173baht, saying the second quarter results should be the worstquarterly result for the energy firm this year and that itexpected better earnings in the third quarter.
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