HSBC Global Research said it rated Thai Airways
International Pcl shares "overweight" because of an
expected buoyancy in Thailand travel market.
HSBC said Thai Airways is expected "to report a decent
fourth quarter of 2012 with the prospect of a dividend
announcement". The research house maintained its target price at
Thai Airways did not pay dividend in 2011, when Thailand and
its tourist industry were hit by serious floods.
"We believe Thai Airways is well positioned to benefit from
strong tourism travel into Thailand with a better-than-expected
performance at Thai Smile and profitable operations at Nok Air,"
it said in a report, referring to the low-cost units of Thai
"Traffic performance in key markets has been strong.
Non-fuel cost controls and high fuel hedging should help lower
costs," it said.
Thai Airways shares were unchanged at 22.80 baht at 0925
GMT, while the broader SET index was up 0.38 percent.
1626 (0926 GMT)
(Reporting by Pairat Temphairojana; Editing by Jijo Jacob)