SGX-listed Thai Beverage Public Company Limited (SG:Y92) recently achieved “Perfect 10” status on the TipRanks Smart Score tool. The stock was included in the list just five days ago, indicating a greater likelihood of surpassing market averages in terms of its performance.
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As per analysts’ evaluations, ThaiBev has received a Strong Buy rating with the potential for over 30% growth in its share price.
Thai Beverage is the largest beverage company in Thailand and enjoys a significant presence throughout Southeast Asia. The company is renowned for its expertise in offering an extensive array of alcoholic and non-alcoholic beverages. The company has brands like Chang Beer, Archa Beer, Mekhong, Oishi, etc. under its portfolio.
Let’s take a look at the details.
The Perfect Score
The TipRanks Smart Score tool assigns scores to stocks on a scale of one to ten, providing insights into a stock’s potential to exceed general market returns. The score is derived from the assessment of eight distinct factors, encompassing hedge fund activities, fundamental analysis, analyst ratings, and other relevant criteria.
ThaiBev’s perfect score of 10 is fairly based on its strong fundamentals, a positive insider signal, and a Strong Buy rating from analysts.
The company recently announced its third-quarter earnings for 2023. Even though the company’s numbers were hit by higher costs, more marketing spending, and increased competition, it still remains optimistic about its resilient performance. Its numbers in Thailand were encouraging, with a 12% increase in its revenues, which offset its underperformance in Vietnam.
Analysts Remain Bullish
Following the release of the results, analysts have confirmed their Buy ratings for the stock. They are of the opinion that the company’s strong presence in Thailand, the possibility of a resurgence in Vietnam, and its attractive valuation together form a convincing rationale for investment.
Additionally, analysts perceive the increasing expenses as a short-term obstacle for the company, which will have an impact on its profit margins.
What is the Forecast for Thai Beverage?
YTD, the stock has experienced a decline of 10.8% in its trading. Despite this, the stock remains a preferred choice among investors on the SGX, as reflected in its higher trading volumes.
According to TipRanks consensus, Y92 stock received a Strong Buy rating backed by all three Buy recommendations. The average price forecast stands at S$0.77, which shows a favorable change of 32.14% in the shares.
Conclusion
ThaiBev has rightfully achieved a “Perfect 10” Smart Score, which is reasonably based on the growth demonstrated in its recent earnings report and the positive outlook projected by analysts.
