0603 GMT - Thailand media sector's earnings momentum looks "unexciting" to UOB Kay Hian analysts as they downgrade the sector to market weight from overweight. Slower growth of television advertising expenditure continues to pressure earnings of television players such as BEC World and One Enterprise, they say in a research report. TV advertising continues to face challenges from growth in Internet advertising, over-the-top and out-of-home media where many agencies are now shifting their budgets, the analysts add. Plan B Media and Major Cineplex Group are the brokerage's top sector picks with buy ratings and target prices of THB9.00 and THB19.00, respectively. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
December 13, 2024 01:03 ET (06:03 GMT)
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