SINGAPORE (Dec 18): KGI Securities is keeping its “buy” recommendation on Thai Beverage with an unchanged target price of 75 cents – implying an estimated upside of more than 27% from its current trading price.

The research house says recent weakness in ThaiBev’s share price following the release of its FY18 results has opened up an opportunity to accumulate.

ThaiBev before market open on Nov 27 reported FY18 earnings of THB 18.53 billion ($77 million), down 46% from last year.

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