Banyan Tree

[Dow Jones] CIMB cuts Banyan Tree to Underperform on lower earnings expectations following meagre 2% 1Q net profit growth. Cuts earnings estimates by 15-19% in anticipation of lower Thailand room revenue and property sales. Lowered SOTP TP to $0.80 from $0.86. Anticipates further hotel room cancellations, slower forward bookings in Thailand with tourists staying away from holiday spots in Bangkok & Phuket.