Thai Union Frozen Up On Strong Expected Profitsff

Source: Reuters

Thailand’s biggest canned tuna exporter, Thai Union Frozen, rose 0.82 percent

to 24.60 baht, having hit a near-two-year high of 24.90 baht in early trade, due to expectations the company would report strong profit growth in the second quarter and the rest of this year thanks to improved margins on shrimp and tuna products.

“The recovery in the global economy should result in better demand for high-priced products, including shrimp and seafood,” KGI Securities said in a research note, adding it maintained a rating of “outperform” with a 12-month target price of 31 baht.

Thai Union Frozen is listed in the Atuna Stock Index – click here to go to the Stock Index