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Citi cuts TMB Bank rating to "sell", lowers target price to 1.2 baht

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The broker cut its earnings per share (EPS) forecast for 2011 and 2012 by 11-23 percent, expecting slower loan growth, lower fee income and rising provisions, it said in a research note dated Oct. 18.

At 0302 GMT, TMB shares were up 1.5 percent at 1.37 baht while the SET index was up 0.5 percent.

Copyright Reuters, 2010