Brokers' take
Thai Beverage | Buy
Target price: S$0.83
Aug 25 close: S$0.71
OCBC Inv Research, Aug 25
LAST week's explosion in Thailand drove concerns over the prospects for the country's tourism industry. Local companies in the hospitality and airline industries inevitably saw share price declines, and are reportedly facing some postponement requests as well as cancellations in hotel reservations. The uncertainty has raised concerns for Thai Beverage as well.
While there would be near-term adverse impact on tourism levels, note that the group had previously shown earnings resilience despite lower tourist levels amid the political unrest in 2014. A plausible factor is that Thai Beverage's sales come from all …
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