Shares in Thai Vegetable Oil Pcl gained as much as 3.1 percent to seven-month highs in active volume amid expectations of rising demand for soybean meal and higher product margins.

Out of 10 analysts tracking the company, five have a "buy" or "strong buy" rating, four rate it as a "hold" and only one has a "sell" rating.

Broker Asia Plus Securities said it raised its 2012 earnings forecast by 34 percent to 1.5 billion baht ($48.72 million), with a target price of 26.53 baht. The broker upgraded its rating on the stock to "buy" from "hold".

Thai Vegetable shares were up 2.64 percent at 23.30 baht, with 5.2 million shares traded, 1.67 times its average full-day volume traded over the past 30 sessions.

"The soybean prices are on an uptrend due to tightening supply ... it should help boost TVO's profitability," it said.

1303 (0603 GMT)

(Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com)