STOCKS NEWS THAILAND-Krung Thai Bank up nearly 5 pct after broker note
Sept 10 - Shares in Krung Thai Bank Pcl (KTB), Thailand's second-largest lender, rose nearly 5 percent after a broker highlighted the benefits to it from a 2 trillion baht ($62 billion) government infrastructure programme plus the company's attractive stock price.
Maybank Kim Eng Securities rated the stock a "buy", setting a target price of 30 baht. At 0514 GMT, it was up 0.60 baht, or 3.28 percent, at 18.90 baht, having earlier risen 4.95 percent. The broad market index was up 0.96 percent.
The infrastructure programme to fund long-term projects including high-speed railways, highways and mass-transit networks, should belatedly be debated in parliament over the next week. KTB could be among the big winners because it is a big lender to the government, Maybank said.
The research house added that Krung Thai shares' valuation was quite low with its price book value ratio at 1.3 times against an average of 1.5 in the banking sector.
Krung Thai President Vorapak Tanyawong told reporters on Tuesday it would maintain its loan growth target at 7.5 percent this year. The bank met its target in the first half.
1214 (0514 GMT)
($1 = 32.1650 Thai baht) (Reporting by Pairat Temphairojana; Editing by Alan Raybould and Prateek Chatterjee)
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