Brokers' take

Thai Beverage | Hold (maintained) Oct 3 close: S$0.865 Target price: S$0.87 UOB Kay Hian, Oct 3

Anheuser-Busch InBev's Asia-Pacific unit (Budweiser APAC) was recently listed on the Hong Kong Exchange on Sept 30. In terms of beer operations, the Budweiser APAC entity is larger in scale than Thai Beverage.

Budweiser APAC is also looking to tap the expanding premium beer segment in Vietnam, similar to Thai Beverage's Sabeco.