“We stay positive with buys on our midstream consumer universe... which are beneficiaries of recovering consumption across Thailand, Vietnam and Indonesia,” says Yeo.
RHB Bank Singapore’s analyst Alfie Yeo is maintaining his “overweight” call on the food & beverage (F&B) industry, as he anticipates consumption to accelerate in 2024.
Yeo names ThaiBev, Delfi and Food Empire as his top picks, with “buy” calls and target prices of 82 cents, $1.55 and $1.53 respectively. He says that each of these stock picks are trading below their respective historical P/E mean, have attractive dividend yields, and all have strong returns on equity (ROEs) of 14%-19%.
