Shares in Rojana Industrial Park Pcl hovered
around a four-and-half-year high in strong trade on expectations
the industrial estate developer would report strong earnings
this year, mainly boosted by land sales to Honda.
Rojana shares were up 2.3 percent at 13.5 baht, having
earlier hit 13.6 baht, the highest since July 2008. About 11.3
million shares have changed hands so far, 1.9 times the average
full-day volume over the past 30 sessions.
Broker DBS Vickers in a research note said its expects the
company's earnings from core operations to hit a record high of
1.7 billion baht ($57.12 million) this year. It rated the stock
a 'buy', with a target price of 15.6 baht.
Rojana has sold 1,600 rais (640 acres) of land at its
industrial estate to a Thai unit of Japanese carmaker Honda
Motor Co. Ltd, which would be booked as revenue over the next
2-3 years, the broker said.
Five out of six analysts tracking the company rated the
stock a 'buy' or 'strong buy' while one has a 'hold' rating,
according to Thomson Reuters StarMine.
The broader SET index was down 0.5 percent.
1146 (0446 GMT)
($1 = 29.76 baht)
(Reporting by Viparat Jantraprap in Bangkok; Editing by Sunil