Thai Beverage Earnings Recovery May Be Supported by Some Tailwinds -- Market Talk

Dow Jones2022-05-19

2353 GMT - Thai Beverage's earnings recovery may be supported by some tailwinds, says UOB Kay Hian in a research report, as the brokerage raises the stock's target price to S$1.05 from S$0.90 with an unchanged buy rating. With the return of tourist arrivals, management is optimistic that the company's product mix between brown and white spirits will improve for its spirits segment. Also, its raw material costs are expected to soften as the crop yield for molasses in FY 2022 has improved as compared with FY 2021. Tourist arrivals together with bars and nightlife venues reopening would also help boost beer consumption volumes, the brokerage adds. The shares closed 0.7% higher at S$0.695 on Wednesday. (ronnie.harui@wsj.com)

$(END)$ Dow Jones Newswires

May 18, 2022 19:53 ET (23:53 GMT)

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blakonen
2022-05-19
blakonen
Good news

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