Thai Beverage kept at 'add' by CIMB with unchanged target price of 87 cents

Stock Name: ThaiBev
Company Name: THAI BEVERAGE PUBLIC CO LTD

Research House: CIMB

Price Call: BUY

Target Price: 0.87

SINGAPORE (May 25): The successful traction of new products might be a re-rating catalyst for Thai Beverage Public Company Limited, according to CIMB Research.

Under Vision 2020, the group aims to be a leader in beer in Thailand, but at the same time diversify revenue contributions away from alcohol and out of Thailand.

"The seeds are being sown. Beer is doing well," said CIMB research analysts Kenneth Ng and Jonathan Seow in a note last Friday.

For now, CIMB has kept its "add" rating for the stock with an unchanged target price of 87 cents.