&nbsp;: Buy; Bt26.00;

	Price Target : Bt37.00 (Prev: Bt35.00); PHATRA TB

	&nbsp;

	- 3Q11 result beat our expectation, led by higher gain on trading in securities and derivatives

	-This prompted us to upgrade FY11F-12F earnings by 24% and 16%, respectively

	-&nbsp;&nbsp;&nbsp; Maintain BUY, with TP nudged up to Bt37

Phatra Capital Plc

Nuttapakron is a Rewriter for Nation Group. He focuses on factual precision and clarity, striving to present updates that are both trustworthy and highly readable.&nbsp;

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Jarupong is a reporter and translator specialising in technology and sustainability.

jarupong_kri@nationgroup.com

Phatra Capital Plc

Strong trading gains

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