SINGAPORE (Nov 24): OCBC is keeping its “neutral” call on the consumer stocks under its coverage, as weaker economic conditions, costs pressures and in some cases, unfavourable currency movements weigh down on earnings growth.

Three companies stand out though. “We believe our preferred picks, Sheng Siong, QAF, and Thai Beverage Public Co, exemplify consistency as they continue to maintain their market share with good sales execution, and operating margins have stayed within expectations,” states OCBC in its Nov 24 report.

OCBC now has a “buy” call on all three stocks and a target price of 95 cents for Sheng Siong Group, $1.27 on QAF and 83 cents on Thai Beverage.

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