Siam Global House

WEDNESDAY, JANUARY 25, 2012
Siam Global House

Sector-beating Q4 2011 expected Outperform - maintained Share price: Bt9.45 Target price: Bt13.00

Siam Global House Plc
Our conversation with management has reaffirmed that GLOBAL ended 2011 on a high note. We believe the company is set to report the strongest earnings growth among its peers in 4Q11. The recent share price weakness offers a good buying opportunity. We maintain our Outperform rating and DCF-based target price, based on 3.5% LTG and 8.7% WACC.