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STOCKS NEWS THAILAND-PTT near 1-month low after Q4 earnings miss
February 26, 2013 / 3:51 AM / 5 years ago

STOCKS NEWS THAILAND-PTT near 1-month low after Q4 earnings miss

Shares in PTT Pcl fell as much as 1.2 percent to 345 baht, the lowest since Jan. 31, after Thailand’s biggest energy firm reported a weaker-than-expected net profit for the fourth quarter (October-December).

Analysts mainly rated the stock a “buy”, citing its low valuation.

The stock looked cheap on a 9.1 times forward-price-to-earnings multiple versus Asian and global peer averages of 11.1 times and 10.2 times, Citi Research said in a report dated Jan. 25.

Seventeen out of 25 analysts tracking the company rated the stock a “buy” or “strong buy”, seven put “hold” and one had “sell”, according to Thomson Reuters StarMine.

1041 (0341 GMT)

Reporting by Viparat Jantraprap in Bangkok; Editing by Jijo Jacob

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