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Brokerages stay bullish on stock despite rising prices

By Somluck Srimalee
The Nation
Published on July 25, 2008

Four of six brokers tracking Italian Thai Development (ITD) shares from June 3 to last Friday recommended "buy", with a target price of between Bt8.18 and Bt9.80 apiece.

The four were Kiatnakin Securities, Ayudhya Securities, Thanachart Securities and Asia Plus Securities.

Meanwhile, DBS Vickers Securities (Thailand) recommends "hold", and Tisco Securities has placed a "sell" recommendation on the shares.

Asia Plus Securities said ITD's share price was now lower than fair value, while the company believes the construction industry is recovering, justifying its recommendation to buy at a target price of Bt8.50 per share.

However, Asia Plus Securities has warned buyers about ITD's business risk from the rising cost of raw materials.

DBS Vickers Securities recommends a "hold" at a target price of Bt5.23 per share, while Tisco Securities recommends "sell" at a target price of Bt7.50 apiece.

ITD shares now trade between Bt4.70 per share and Bt4.10 apiece.

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Brokerages stay bullish on stock despite rising prices

Four of six brokers tracking Italian Thai Development (ITD) shares from June 3 to last Friday recommended "buy", with a target price of between Bt8.18 and Bt9.80 apiece.

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