0233 GMT - CP All's decision not to invest in Japan's Seven & i Holdings eases investor worries over potential mergers and acquisitions risk to the company's balance sheet and earnings outlook, Thanachart Securities' Phannarai Tiyapittayarut says in a research report. The Thai operator of 7-Eleven convenience store informed the Thailand stock exchange late last month that it wouldn't participate in an investment in the Japanese retail company, the analyst notes. The brokerage raises its 2025-2027 earnings estimates for CP All by 4%-5% per annum given its 7-Eleven business' 4Q results beat expectations. The brokerage raises the stock's target to THB66.00 from THB63.00 and reaffirms the buy rating. Shares closed 1.5% lower at THB49.25 on Monday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 17, 2025 22:33 ET (02:33 GMT)
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