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ThaiBev seen as 'attractive and undervalued' Covid-19 recovery play with high potential upside

Felicia Tan
Felicia Tan2/17/2022 06:43 PM GMT+08  • 3 min read
ThaiBev seen as 'attractive and undervalued' Covid-19 recovery play with high potential upside
UOBKH has upped its target price to 90 cents from 85 cents previously due to its higher FY2022 beer and food EBITDA estimates.
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UOB Kay Hian analyst Llelleythan Tan has maintained his “buy” recommendation on Thai Beverage ThaiBev) after the beverage group released its business update for the 1QFY2022 ended December.

According to Tan in his Feb 15 report, the group’s results stood in line with his estimates.

On Feb 14, ThaiBev reported sales revenue of 77.12 billion baht ($3.20 billion), 7.4% higher y-o-y due to broad-based improvements across its segments.

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