UOB Kay Hian analyst Lucas Teng remains upbeat on Thai Beverage (ThaiBev) despite a week that saw Thailand tighten Covid-19 restrictions.

He reiterates his ‘buy’ call for ThaiBev with an unchanged target price of 92 cents.

Teng’s bullishness is partly underpinned by ThaiBev’s continued ‘premiumisation’ of its product portfolio, which includes enhancing the bottling of Hong Thong brown spirits as well as introducing new beer variants such as the higher-priced Chang Cold Brew, the coffee-infused Chang Espresso, and Sabeco’s Bia Saigon Chill.


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