Thai Beverage - OCBC Investment 2016-10-13: Impacted by broader concerns over Thai King's health condition

Thai Beverage - OCBC Investment 2016-10-13: Impacted by broader concerns over Thai King's health condition THAI BEVERAGE PUBLIC CO LTD Y92.SI

Thai Beverage: - Impacted by broader concerns over Thai King's health condition

  • The latest statement that was released on the health condition of Thailand's King Bhumibol Adulyadej revealed that the king's health has 'not stabilised'. 
  • Amid such fears, the Stock Exchange of Thailand (SET) Index continued its decline and fell 2.5% yesterday while Thai Beverage's share price was down 5.7% to S$0.91. 
  • Near term sentiment may remain hit by the uncertainties around potential repercussions for Thailand. 
  • Nonetheless, we believe the long term fundamentals of Thai Beverage remains strong. 
  • During times of political turmoil, we recall that its Spirits segment was still able to show resilience in earnings, while we believe the Beer segment would remain a key growth driver for the group ahead. 
  • We have a HOLD rating and S$1.01 fair value estimate; while we advocate longer term investors to consider accumulating at current price levels.




Jodie Foo CFA OCBC Investment | http://www.ocbcresearch.com/ 2016-10-13
OCBC Investment SGX Stock Analyst Report HOLD Maintain HOLD 1.01 Same 1.010



Advertisement




MOST TALKED ABOUT STOCKS / REITS OF THE WEEK



loading.......


ANALYSTS SAY


loading.......