STOCKS NEWS EMERGING EUROPE-KBC/Patria ups AAA Auto to "hold"

                                
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 1419 GMT 26June2008 - KBC/Patria lifts AAA Auto to "hold" from "sell"
                                
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 KBC/Patria raises AAA Auto Group <AAAAsp.PR> to "hold" from "sell" as the
Czech used car dealer moves ahead with restructuring aimed at returning to
profitability, including a withdrawal from the Polish market.
                                
 "Though the withdrawal is negative, we view this decision as rational, given
the current deep restructuring of AAA Auto'ss business," the broker writes.
                                
 The brokerage also cut its fair value estimate for AAA shares by 4 percent
to 20.08 crowns per share. The stock closes down 1.1 percent at 19.26 crowns.
                                
 For more news on research notes double click [CEEU-RCH]
                                
 Reuters Messaging rm://jason.hovet.reuters.com@reuters.net


                                
 0958 GMT 26June2008 - Atlantik cuts Telefonica O2 Czech Republic target
                                
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 Brokerage Atlantik FT cuts its target price for Telefonica O2 Czech Republic
<SPTTsp.PR> to 609 crowns from 662 after profit from the phone group's May real
estate sale came in below expectations.
                                
 The company sold part of its real estate portfolio for more than 4 billion
Czech crowns ($259.8 million) last month, lower than the 5.5 billion Atlantik
expected.
                                
 "The selling price means a gain from the sale of over 400 million crowns,
again far lower than (the 1.3 billion) we projected," the brokerage says.
                                
 However, Atlantik keeps a buy rating on the Czech unit of Telefonica, saying
the stock still holds 29.6 percent upside potential.
                                
 The stock rose 0.8 percent to 475.23 crowns at 0940 GMT, while Prague's main
PX index lost 1 percent.
                                
 Reuters Messaging rm://jason.hovet.reuters.com@reuters.net

                                
 
                                
 0925 GMT 26June2008 - Dom Development falls 6 pct on forecast cut
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 Shares in Polish housing developer Dom Development <DOMD.WA> drop as much as
5.9 percent after its chief executive tells Reuters in an interview the company
expects to sell at least 1,500 homes this year, down from earlier expectations
of 2,000 and half the figure it forecast at the start of 2008.
                                
 The stock is among Warsaw's biggest losers in the session. The midcap index
<.MWIG40> slips 0.5 percent.
                                
 For the Reuters interview, double click [nL25410193]
                                
 Reuters Messaging rm://piotr.bujnicki.reuters.com@reuters.net
 ($1=15.392 Czech Crown)