UPDATE 1-Thai Central Pattana says new stores to boost revenues

* Raises 2009 revenue growth target on new stores

* Plans to upgrade existing shopping centres

* Shares up 7 pct to 9-mth high, outperform

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BANGKOK, June 3 (Reuters) - Central Pattana (CPN.BK), Thailand's top department store operator, said on Wednesday it expected 2009 revenues to grow more than 25 percent, higher than analysts' forecasts, after new store openings this year.

Chief Financial Officer Naris Cheyklin said he expected second quarter revenues to exceed the first quarter due to the recent acquisition of a department store in the northeastern province of Udon Thani.

"We raised our revenue target for this year. It should be more than 25 percent," he told reporters.

Eleven analysts polled by Reuters Estimates forecast a 19 percent rise in revenue this year. The company, which reported revenues of 8.6 billion baht ($253 million) in 2008, had previously forecast 25 percent growth this year.

Central Pattana opened a new store in the eastern province of Chonburi in May and planned to open another in the northeastern province of Khon Kaen in December.

The additional stores required the company to raise its investment budget to 8.69 billion baht from 5.62 billion baht this year, he said.

Central Pattana planned to invest about 15.5 billion baht from 2010-12 to develop and upgrade existing shopping centres, Naris said.

At 0800 GMT, Central Pattana shares jumped seven percent to 18 baht after hitting a nine-month high of 18.30 baht. The overall Thai stock market was 1.64 percent higher. ($1=34.00 Baht) (Reporting by Saranya Suksomkij; Writing by Khettiya Jittapong; Editing by Darren Schuettler)