Shares in Siam Makro Pcl fell 6.9 percent to 430
baht, a three-week low, after the cash-and-carry wholesaler
reported weaker-than-expected earnings for the third quarter.
"Third-quarter sales revenue turns softer, up 14.3 percent
YoY but down 1 percent QoQ possibly due to weak food price
inflation witnessed in the first half rather than weak sales
volume growth," Citigroup said in a report.
Citi maintained its 'sell' rating on the stock citing
"While the company has delivered 24 percent YoY growth in
its nine-month result, it still trails high consensus
expectations," it said.
Siam Makro shares had risen 83 percent so far this year,
outperforming a 61 percent gain of the commerce subindex
and a 28 percent gain of the main SET index.
1025 (0325 GMT)
(Reporting by Viparat Jantraprap in Bangkok; Editing by
Gopakumar Warrier; firstname.lastname@example.org)