April 28, 2011

GFPT shares climb 9.6% on stable 2011 profit outlook

Shares in Thailand's GFPT Plc, the country's second-largest publicly traded poultry exporter, ascended 9.6% on Wednesday (Apr 27) on analyst's anticipated strong earnings outlook this year.

By 0831 GMT, GFPT stock was up 9.6% at THB10.80 (US$0.36) after rising to a record high of THB11 (US$0.37). The broader market was 0.5% higher.

United Securities said to clients it planned to raise its 2011 profit estimate from its original forecast of THB1.28 billion (US$0.04 billion) on the back of rising exports.

The broker gave a "buy" rating on the shares, with a target price of THB10.20 (US$0.34).