
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.