“We project [ThaiBev’s] upcoming 2HFY2022/FY2022 net profit to show [around] 4%/9% y-o-y growth, despite concerns on raw material cost pressures,” Sim writes.
DBS Group Research analyst Andy Sim and the Singapore research team have re-initiated coverage on Thai Beverage (ThaiBev) with a “buy” recommendation and a target price of 84 cents.
Calling the counter one of the “most valuable” large-cap Asean food and beverage (F&B) counters, Sim says ThaiBev is transforming into the region’s leading beverage player and has gained market share in its key markets of Thailand and Vietnam.
