“We believe the effects were largely due to the mourning period and should normalise over time, and sales of beverages should pick up again,” says analyst Andy Sim in a Friday report.
SINGAPORE (May 12): DBS is maintaining its “buy” recommendation on ThaiBev with an unchanged sum-of-parts target price of $1.09.
Although 2Q17 results was a dampener and could cause share price to weaken in the immediate term, DBS is taking a longer term positive view of the counter.
