Thai Beverage kept at ‘buy’ by DBS with higher target price of 82 cents

SINGAPORE (Nov 16): DBS is maintaining its “buy” call on Thai Beverage and raising its target price to 82 cents from 81 cents as the house sees evidence of ThaiBev taking steps to transform into a regional beverage player.

In a Friday report, analyst Andy Sim says, “We believe ThaiBev should have an advantage over its peers given its dominant position as the leading spirits player in Thailand, providing it with ample firepower and serve as a bastion for the company while it invests in new avenues of growth.”

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