Equity Analysis /
Thailand

Thai Beverage: Beer segment to regain its fizz once the pandemic eases

  • We reiterate our Buy recommendation with a target price of SGD1.26 on THBEV SP and retain our earnings forecast

  • ThaiBev's beer segment is an ideal reopening play and may see a revaluation from Budweiser

  • ThaiBev has a dividend yield of 3.6% placing it at the top of the Asian liqour peer group

Nirgunan Tiruchelvam
Nirgunan Tiruchelvam

Head of Consumers Equity Research

Tellimer Research
20 August 2021
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