Despite a weaker set of results announced by Thai Beverage (ThaiBev) for FY2020, analysts are more bullish on the prospects of the beverage manufacturer ahead.

CGS-CIMB Research, which has kept its “add” rating for the stock, has raised its target price to 87 cents from 70 cents previously.

DBS Group Research, which has retained its “buy” call for the stock, has also raised its target price to 93 cents from 90 cents previously.

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