Shares in Thailand's biggest cinema operator, Major CineplexGroup Pcl hit a five-month high, outperforming themedia subindex, on the back of a strong cinema advertisingspending, brokers said.
Major Cineplex shares were up 3.1 percent at 19.7 baht,climbing at one point to 19.8 baht, the highest since May 11.The media subindex was up 0.46 percent while thebenchmark SET Index gained 0.4 percent.
Phillip Securities rated Major Cineplex a 'trading buy',with a target price of 21.3 baht, citing September cinema adsspending. The stock has risen 12.79 percent since September,outperforming a 8.5 percent gain of the media subindex.
"Growth in total ad spending is likely to accelerate in thefourth quarter of 2012, reflecting the impact of last year'ssevere floods, which caused a slowdown in ad spending," it said.
Total ad spending in Thailand rose 6.55 percent year on yearto 9.7 billion baht ($316.12 million) in September, with cinemaads and in-store media the top growth performers whilecarbonated soft beverage sector was a top spender, it said.
1156 (0456 GMT)
(Reporting by Viparat Jantraprap in Bangkok; Editing by AnandBasu; email@example.com)
09:19 STOCKS NEWS THAILAND-CIMB raises Tisco price targetafter strong Q3
CIMB Research raised its price target on Tisco FinancialGroup Pcl TISCO.BK to 55 baht from 38 baht, citing the financialfirm's strong third-quarter results and the broker's upgrades offull-year loan growth, non-interest income and net interestmargin.
Tisco shares closed unchanged at 48.5 baht on Thursday. Theyhave gained 27.6 percent in 2012, underperforming a 36.4 percentgain of the broader banking subindex .SETB.
Tisco, which reported earnings after market hours, posted a6 percent rise in third-quarter net profit at 953 million baht($31 million) and a nine-month net profit of 2.7 billion baht,up 5 percent.
The strong results were due to rapid loan growth, highnon-interest income and loan-related fees. For the companystatement, click (Full Story)
CIMB said it upgraded the stock to 'neutral' from'underperform'.
"While the stock could perform well due to continued solidresults in the next few quarters, we stop short of sounding tooupbeat as we remain wary of its medium-term earningsvisibility," the broker said in a report.
Other listed Thai banks are due to announce their thirdquarter results over the next two weeks.
0907 (0207 GMT) (Reporting by Viparat Jantraprap in Bangkok;firstname.lastname@example.org; Editing by PrateekChatterjee)($1 = 30.685 baht)
Keywords: MARKETS THAILAND STOCKSNEWS/MAJORCINEPLEX