Wednesday, July 12, 2006

Thai Beverage Overweight Call by JP Morgan!

Thai Beverage Public Co Ltd may extend gains after JP Morgan started covering the company with an 'overweight' rating and a 12-month price target of 0.32 sgd. "Thai Beverage has steady, non-cyclical demand, dominant market share, hefty and stable margins and strong free cash flows," JP Morgan said in a note to clients. Thai Beverage closed up 0.015 sgd at 0.29 yesterday, its highest closing level since it listed on May 30. Its initial public offering price was 0.28 sgd.

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