SINGAPORE (Nov 24): DBS is maintaining its “buy” call on Thai Beverage with a target price of $1.07 given the F&B player remains as one of its top picks in the large-cap consumer sector.
Over the longer term, DBS expects ThaiBev’s ongoing transformation to turn the group into a regional beverage player which would help to further re-rate the stock.
“We expect performance to improve on the back of recovery in consumption, post a year-long mourning period,” says lead analyst Andy Sim in a Friday report.
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