ThaiBev    Last:0.435    +0.01

ThaiBev

Standby at 40 cents to catch mao San wang

stonkmaster      ( Date: 01-Jul-2024 12:16) Posted: Will not surprise if it hits 40 cents then bounce up. Now bb like to do this kind of trick to capitulate others. Will all in at 41cents. Speediman      ( Date: 01-Jul-2024 12:03) Posted: Expecting a U-turn soon and strong run up.  Prices oversold past fundamentals.

 

Will not surprise if it hits 40 cents then bounce up. Now bb like to do this kind of trick to capitulate others. Will all in at 41cents.

Speediman      ( Date: 01-Jul-2024 12:03) Posted: Expecting a U-turn soon and strong run up.  Prices oversold past fundamentals.  JessTrang      ( Date: 01-Jul-2024 09:41) Posted: Or They are forcing company to plan for delist with low valuations and list elsewhere

 

Expecting a U-turn soon and strong run up. 

Prices oversold past fundamentals. 

JessTrang      ( Date: 01-Jul-2024 09:41) Posted: Or They are forcing company to plan for delist with low valuations and list elsewhere? Speediman      ( Date: 01-Jul-2024 09:32) Posted: This is a highly manipulated stock.  Sharks love it too.  Maybe some BB is pressing the price low and lower to force TB to sell out Sabeco for cheap IP

 

If one day company delsit and list in Malaysia, it' s really a huge slap to SGX

JessTrang      ( Date: 01-Jul-2024 09:41) Posted: Or They are forcing company to plan for delist with low valuations and list elsewhere? Speediman      ( Date: 01-Jul-2024 09:32) Posted: This is a highly manipulated stock.  Sharks love it too.  Maybe some BB is pressing the price low and lower to force TB to sell out Sabeco for cheap IP

 

Or They are forcing company to plan for delist with low valuations and list elsewhere?

Speediman      ( Date: 01-Jul-2024 09:32) Posted: This is a highly manipulated stock.  Sharks love it too.  Maybe some BB is pressing the price low and lower to force TB to sell out Sabeco for cheap IPO JessTrang      ( Date: 01-Jul-2024 09:12) Posted: Really, don' t know who are those sellers, keep selling to create new low.. MAy just reported core business performance and share pirce dropped like company making huge losses or going to bankrupt. Revenue, net profit and assets all increased significantly compared to 2013 and 2014 annual report....

 

This is a highly manipulated stock. 
Sharks love it too. 

Maybe some BB is pressing the price low and lower to force TB to sell out Sabeco for cheap IPO

JessTrang      ( Date: 01-Jul-2024 09:12) Posted: Really, don' t know who are those sellers, keep selling to create new low.. MAy just reported core business performance and share pirce dropped like company making huge losses or going to bankrupt. Revenue, net profit and assets all increased significantly compared to 2013 and 2014 annual report....   vivacious      ( Date: 01-Jul-2024 09:06) Posted: what in the world...

 

Akin like an accountant who worked all his way up to become CEO who has increased his net worth is still labeled as an accountant....

JessTrang      ( Date: 01-Jul-2024 09:12) Posted: Really, don' t know who are those sellers, keep selling to create new low.. MAy just reported core business performance and share pirce dropped like company making huge losses or going to bankrupt. Revenue, net profit and assets all increased significantly compared to 2013 and 2014 annual report....   vivacious      ( Date: 01-Jul-2024 09:06) Posted: what in the world...

 

Really, don' t know who are those sellers, keep selling to create new low..
MAy just reported core business performance and share pirce dropped like company making huge losses or going to bankrupt. Revenue, net profit and assets all increased significantly compared to 2013 and 2014 annual report....
 

vivacious      ( Date: 01-Jul-2024 09:06) Posted: what in the world...

 

what in the world...

 

Wait for historical low then enter if 40 cents even better

Alignment      ( Date: 27-Jun-2024 18:18) Posted: I think this is correct. Younger people seemingly like less bitter beers.  Speediman      ( Date: 27-Jun-2024 10:44) Posted: Chang Beer and Saigon Beer is not popular anymore. Its just too bitter for the masses Thai Bev needs to create a lighter taste that will be more acceptable with the ladies, youngster, Chinese Tourist, etc.  Tiger have done it with tiger crystal.  One of the lightest tasting China beer is Snow brand. But it is one of the best sellers.

 

I think this is correct. Younger people seemingly like less bitter beers. 

Speediman      ( Date: 27-Jun-2024 10:44) Posted: Chang Beer and Saigon Beer is not popular anymore. Its just too bitter for the masses Thai Bev needs to create a lighter taste that will be more acceptable with the ladies, youngster, Chinese Tourist, etc.  Tiger have done it with tiger crystal.  One of the lightest tasting China beer is Snow brand. But it is one of the best sellers.  Joelton      ( Date: 25-Jun-2024 08:18) Posted: Analysts maintain ' buy' on ThaiBev following updates, including on long-awaited BeerCo IPO   Analysts at UOB Kay Hian (UOBKH) and DBS Group Research are keeping &ldquo buy&rdquo on Thai Beverage Y92 0.00%   (ThaiBev) following the company&rsquo s recently held Annual Information Meeting and analyst meeting.   In their June 23 report, DBS analysts highlight that the long-awaited BeerCo IPO remains part of ThaiBev&rsquo s strategic value unlocking agenda, as the company actively explores multiple options to maximise value for shareholders. One such option includes an equity partnering with a global brewer.   In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved.   As such, DBS believes that the BeerCo IPO is a key share price re-rating catalyst, adding that an equity partnership with a global brewer will be key to act as an anchor valuation. The frontrunner is likely to be Budweiser APAC, with its significant investment capacity. The analysts believe that Budweiser&rsquo s APAC&rsquo s global premium portfolio would complement ThaiBev&rsquo s existing mainstream focused portfolio.    &ldquo Nonetheless, we believe Asahi should not be discounted as it has sufficient investment capacity to come in as a minority shareholder, which is preferred by ThaiBev&rsquo s management. In addition, it owns the second largest Japanese whisky company, Nikka, which has a global distribution network that ThaiBev could leverage on to grow its international premium spirits portfolio on a global scale,&rdquo the analysts point out.   Meanwhile, UOBKH analysts Llelleythan Tan and Heidi Mo point out ThaiBev&rsquo s possible divestments, as its stake in Frasers Property TQ5 0.00% has been earmarked as a non-core asset and may potentially be divested. However, they believe this is unlikely given Frasers Property&rsquo s share price being at an all-time low.    &ldquo On the other hand, ThaiBev&rsquo s stake in Fraser and Neave (F& N) is considered a strategic investment given the operating synergies and collaborations with ThaiBev&rsquo s nonalcoholic beverages segment. However, management did mention that if the valuation was acceptable, the group would consider divesting its F& N stake,&rdquo they add.   In response to future growth drivers for the spirits segment, ThaiBev mentioned that the group has implemented a premiumisation strategy to attract a different customer profile and improve its international spirits portfolio.    UOBKH analysts note that this was driven by the recent acquisitions of Larsen cognac and Cardrona Distillery in FY2023, which boast higher margins as compared with its domestic spirits stock-keeping unit (SKUs). Despite political tension in Myanmar, ThaiBev expects Grand Royal to continue its strong performance in FY2024.   Tan and Mo also expect ThaiBev&rsquo s beer subsidiary in Vietnam &mdash Sabeco &mdash to increase its average selling prices (ASPs) by 10%-15% in 2QFY2026 to pass on the higher excise taxes to customers.    &ldquo In anticipation of the ASP hikes, we reckon that this would induce forward buying from customers, resulting in higher sales volumes in 4QFY2025/1QFY2026. However, beer sales volumes would likely normalise subsequently in 2QFY2026 as demand tapers off, although this may be mitigated by consumers down-trading to ThaiBev&rsquo s mass-market beer portfolio,&rdquo they note.   UOBKH has a lower target price on ThaiBev at 57 cents compared to 70 cents previously due to the re-rating of the company&rsquo s peer EV/ebitda multiples since its last update, while DBS keeps its target price at 69 cents.

 

the new competitor only gain 1% market share in Thailand based on recent findings. Latest results also showed beer revenue increased 12%
my thai ladies friends they tried once on the new competitor and went back to Chang beer, so i think the consumption for Chang beer is relatively stable.

 

Ladies like snow....so you can imagine they will down cans of it. 
very tasty to eat bbq and drink snow. 

 

msksmsks      ( Date: 27-Jun-2024 14:21) Posted: Chinese snow brand in people's park complex selling $10 for 4 bottles. Profit razor thin ... Chang beer lose out mkt share hands down Speediman      ( Date: 27-Jun-2024 10:44) Posted: Chang Beer and Saigon Beer is not popular anymore. Its just too bitter for the masses Thai Bev needs to create a lighter taste that will be more acceptable with the ladies, youngster, Chinese Tourist, etc.  Tiger have done it with tiger crystal.  One of the lightest tasting China beer is Snow brand. But it is one of the best sellers.

 

What can we say? Lol

 

vivacious      ( Date: 27-Jun-2024 10:32) Posted: wth....45.5?!

 

Chinese snow brand in people's park complex
selling $10 for 4 bottles.

Profit razor thin ...

Chang beer lose out mkt share hands down

Speediman      ( Date: 27-Jun-2024 10:44) Posted: Chang Beer and Saigon Beer is not popular anymore. Its just too bitter for the masses Thai Bev needs to create a lighter taste that will be more acceptable with the ladies, youngster, Chinese Tourist, etc.  Tiger have done it with tiger crystal.  One of the lightest tasting China beer is Snow brand. But it is one of the best sellers.  Joelton      ( Date: 25-Jun-2024 08:18) Posted: Analysts maintain ' buy' on ThaiBev following updates, including on long-awaited BeerCo IPO   Analysts at UOB Kay Hian (UOBKH) and DBS Group Research are keeping &ldquo buy&rdquo on Thai Beverage Y92 0.00%   (ThaiBev) following the company&rsquo s recently held Annual Information Meeting and analyst meeting.   In their June 23 report, DBS analysts highlight that the long-awaited BeerCo IPO remains part of ThaiBev&rsquo s strategic value unlocking agenda, as the company actively explores multiple options to maximise value for shareholders. One such option includes an equity partnering with a global brewer.   In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved.   As such, DBS believes that the BeerCo IPO is a key share price re-rating catalyst, adding that an equity partnership with a global brewer will be key to act as an anchor valuation. The frontrunner is likely to be Budweiser APAC, with its significant investment capacity. The analysts believe that Budweiser&rsquo s APAC&rsquo s global premium portfolio would complement ThaiBev&rsquo s existing mainstream focused portfolio.    &ldquo Nonetheless, we believe Asahi should not be discounted as it has sufficient investment capacity to come in as a minority shareholder, which is preferred by ThaiBev&rsquo s management. In addition, it owns the second largest Japanese whisky company, Nikka, which has a global distribution network that ThaiBev could leverage on to grow its international premium spirits portfolio on a global scale,&rdquo the analysts point out.   Meanwhile, UOBKH analysts Llelleythan Tan and Heidi Mo point out ThaiBev&rsquo s possible divestments, as its stake in Frasers Property TQ5 0.00% has been earmarked as a non-core asset and may potentially be divested. However, they believe this is unlikely given Frasers Property&rsquo s share price being at an all-time low.    &ldquo On the other hand, ThaiBev&rsquo s stake in Fraser and Neave (F& N) is considered a strategic investment given the operating synergies and collaborations with ThaiBev&rsquo s nonalcoholic beverages segment. However, management did mention that if the valuation was acceptable, the group would consider divesting its F& N stake,&rdquo they add.   In response to future growth drivers for the spirits segment, ThaiBev mentioned that the group has implemented a premiumisation strategy to attract a different customer profile and improve its international spirits portfolio.    UOBKH analysts note that this was driven by the recent acquisitions of Larsen cognac and Cardrona Distillery in FY2023, which boast higher margins as compared with its domestic spirits stock-keeping unit (SKUs). Despite political tension in Myanmar, ThaiBev expects Grand Royal to continue its strong performance in FY2024.   Tan and Mo also expect ThaiBev&rsquo s beer subsidiary in Vietnam &mdash Sabeco &mdash to increase its average selling prices (ASPs) by 10%-15% in 2QFY2026 to pass on the higher excise taxes to customers.    &ldquo In anticipation of the ASP hikes, we reckon that this would induce forward buying from customers, resulting in higher sales volumes in 4QFY2025/1QFY2026. However, beer sales volumes would likely normalise subsequently in 2QFY2026 as demand tapers off, although this may be mitigated by consumers down-trading to ThaiBev&rsquo s mass-market beer portfolio,&rdquo they note.   UOBKH has a lower target price on ThaiBev at 57 cents compared to 70 cents previously due to the re-rating of the company&rsquo s peer EV/ebitda multiples since its last update, while DBS keeps its target price at 69 cents.

 

Run road liao.... many ppl sitting on heaps of paper losses... even the dividends can only cover a fraction of the losses.

vivacious      ( Date: 27-Jun-2024 10:32) Posted: wth....45.5?!

 

Chang Beer and Saigon Beer is not popular anymore. Its just too bitter for the masses
Thai Bev needs to create a lighter taste that will be more acceptable with the ladies, youngster, Chinese Tourist, etc. 
Tiger have done it with tiger crystal. 

One of the lightest tasting China beer is Snow brand. But it is one of the best sellers. 

Joelton      ( Date: 25-Jun-2024 08:18) Posted: Analysts maintain ' buy' on ThaiBev following updates, including on long-awaited BeerCo IPO   Analysts at UOB Kay Hian (UOBKH) and DBS Group Research are keeping &ldquo buy&rdquo on Thai Beverage Y92 0.00%   (ThaiBev) following the company&rsquo s recently held Annual Information Meeting and analyst meeting.   In their June 23 report, DBS analysts highlight that the long-awaited BeerCo IPO remains part of ThaiBev&rsquo s strategic value unlocking agenda, as the company actively explores multiple options to maximise value for shareholders. One such option includes an equity partnering with a global brewer.   In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved.   As such, DBS believes that the BeerCo IPO is a key share price re-rating catalyst, adding that an equity partnership with a global brewer will be key to act as an anchor valuation. The frontrunner is likely to be Budweiser APAC, with its significant investment capacity. The analysts believe that Budweiser&rsquo s APAC&rsquo s global premium portfolio would complement ThaiBev&rsquo s existing mainstream focused portfolio.    &ldquo Nonetheless, we believe Asahi should not be discounted as it has sufficient investment capacity to come in as a minority shareholder, which is preferred by ThaiBev&rsquo s management. In addition, it owns the second largest Japanese whisky company, Nikka, which has a global distribution network that ThaiBev could leverage on to grow its international premium spirits portfolio on a global scale,&rdquo the analysts point out.   Meanwhile, UOBKH analysts Llelleythan Tan and Heidi Mo point out ThaiBev&rsquo s possible divestments, as its stake in Frasers Property TQ5 0.00% has been earmarked as a non-core asset and may potentially be divested. However, they believe this is unlikely given Frasers Property&rsquo s share price being at an all-time low.    &ldquo On the other hand, ThaiBev&rsquo s stake in Fraser and Neave (F& N) is considered a strategic investment given the operating synergies and collaborations with ThaiBev&rsquo s nonalcoholic beverages segment. However, management did mention that if the valuation was acceptable, the group would consider divesting its F& N stake,&rdquo they add.   In response to future growth drivers for the spirits segment, ThaiBev mentioned that the group has implemented a premiumisation strategy to attract a different customer profile and improve its international spirits portfolio.    UOBKH analysts note that this was driven by the recent acquisitions of Larsen cognac and Cardrona Distillery in FY2023, which boast higher margins as compared with its domestic spirits stock-keeping unit (SKUs). Despite political tension in Myanmar, ThaiBev expects Grand Royal to continue its strong performance in FY2024.   Tan and Mo also expect ThaiBev&rsquo s beer subsidiary in Vietnam &mdash Sabeco &mdash to increase its average selling prices (ASPs) by 10%-15% in 2QFY2026 to pass on the higher excise taxes to customers.    &ldquo In anticipation of the ASP hikes, we reckon that this would induce forward buying from customers, resulting in higher sales volumes in 4QFY2025/1QFY2026. However, beer sales volumes would likely normalise subsequently in 2QFY2026 as demand tapers off, although this may be mitigated by consumers down-trading to ThaiBev&rsquo s mass-market beer portfolio,&rdquo they note.   UOBKH has a lower target price on ThaiBev at 57 cents compared to 70 cents previously due to the re-rating of the company&rsquo s peer EV/ebitda multiples since its last update, while DBS keeps its target price at 69 cents.

 

wth....45.5?!

 

Ha ha ha another buy call from the same brokering house albeit at a lower TP ha ha ha ha.

Beware of analysts! Believe them at your own peril.

At the recent AIM, the management were expounding motherhood statements but all short of secifics and and monitoring!

When illsuions of grandeur and vanity get stuck in their heads one should not expect much improved profitability.

Only improving profits and increasing dividends would drive up share prices!

JessTrang      ( Date: 25-Jun-2024 09:42) Posted: Buy call again... haiz... In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved. no reason for market makers to lock their money here for now, think price will drift further south.. Joelton      ( Date: 25-Jun-2024 08:18) Posted: Analysts maintain ' buy' on ThaiBev following updates, including on long-awaited BeerCo IPO   Analysts at UOB Kay Hian (UOBKH) and DBS Group Research are keeping &ldquo buy&rdquo on Thai Beverage Y92 0.00%   (ThaiBev) following the company&rsquo s recently held Annual Information Meeting and analyst meeting.   In their June 23 report, DBS analysts highlight that the long-awaited BeerCo IPO remains part of ThaiBev&rsquo s strategic value unlocking agenda, as the company actively explores multiple options to maximise value for shareholders. One such option includes an equity partnering with a global brewer.   In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved.   As such, DBS believes that the BeerCo IPO is a key share price re-rating catalyst, adding that an equity partnership with a global brewer will be key to act as an anchor valuation. The frontrunner is likely to be Budweiser APAC, with its significant investment capacity. The analysts believe that Budweiser&rsquo s APAC&rsquo s global premium portfolio would complement ThaiBev&rsquo s existing mainstream focused portfolio.    &ldquo Nonetheless, we believe Asahi should not be discounted as it has sufficient investment capacity to come in as a minority shareholder, which is preferred by ThaiBev&rsquo s management. In addition, it owns the second largest Japanese whisky company, Nikka, which has a global distribution network that ThaiBev could leverage on to grow its international premium spirits portfolio on a global scale,&rdquo the analysts point out.   Meanwhile, UOBKH analysts Llelleythan Tan and Heidi Mo point out ThaiBev&rsquo s possible divestments, as its stake in Frasers Property TQ5 0.00% has been earmarked as a non-core asset and may potentially be divested. However, they believe this is unlikely given Frasers Property&rsquo s share price being at an all-time low.    &ldquo On the other hand, ThaiBev&rsquo s stake in Fraser and Neave (F& N) is considered a strategic investment given the operating synergies and collaborations with ThaiBev&rsquo s nonalcoholic beverages segment. However, management did mention that if the valuation was acceptable, the group would consider divesting its F& N stake,&rdquo they add.   In response to future growth drivers for the spirits segment, ThaiBev mentioned that the group has implemented a premiumisation strategy to attract a different customer profile and improve its international spirits portfolio.    UOBKH analysts note that this was driven by the recent acquisitions of Larsen cognac and Cardrona Distillery in FY2023, which boast higher margins as compared with its domestic spirits stock-keeping unit (SKUs). Despite political tension in Myanmar, ThaiBev expects Grand Royal to continue its strong performance in FY2024.   Tan and Mo also expect ThaiBev&rsquo s beer subsidiary in Vietnam &mdash Sabeco &mdash to increase its average selling prices (ASPs) by 10%-15% in 2QFY2026 to pass on the higher excise taxes to customers.    &ldquo In anticipation of the ASP hikes, we reckon that this would induce forward buying from customers, resulting in higher sales volumes in 4QFY2025/1QFY2026. However, beer sales volumes would likely normalise subsequently in 2QFY2026 as demand tapers off, although this may be mitigated by consumers down-trading to ThaiBev&rsquo s mass-market beer portfolio,&rdquo they note.   UOBKH has a lower target price on ThaiBev at 57 cents compared to 70 cents previously due to the re-rating of the company&rsquo s peer EV/ebitda multiples since its last update, while DBS keeps its target price at 69 cents.

 

Buy call again... haiz...

In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved.

no reason for market makers to lock their money here for now, think price will drift further south..

Joelton      ( Date: 25-Jun-2024 08:18) Posted: Analysts maintain ' buy' on ThaiBev following updates, including on long-awaited BeerCo IPO   Analysts at UOB Kay Hian (UOBKH) and DBS Group Research are keeping &ldquo buy&rdquo on Thai Beverage Y92 0.00%   (ThaiBev) following the company&rsquo s recently held Annual Information Meeting and analyst meeting.   In their June 23 report, DBS analysts highlight that the long-awaited BeerCo IPO remains part of ThaiBev&rsquo s strategic value unlocking agenda, as the company actively explores multiple options to maximise value for shareholders. One such option includes an equity partnering with a global brewer.   In terms of partnership, ThaiBev is looking out for strategic fit, valuation and culture fit, the analysts say. They note that the company is aiming for early to mid-2025, when market conditions are expected to improve on lower interest rates and US presidential election uncertainty is resolved.   As such, DBS believes that the BeerCo IPO is a key share price re-rating catalyst, adding that an equity partnership with a global brewer will be key to act as an anchor valuation. The frontrunner is likely to be Budweiser APAC, with its significant investment capacity. The analysts believe that Budweiser&rsquo s APAC&rsquo s global premium portfolio would complement ThaiBev&rsquo s existing mainstream focused portfolio.    &ldquo Nonetheless, we believe Asahi should not be discounted as it has sufficient investment capacity to come in as a minority shareholder, which is preferred by ThaiBev&rsquo s management. In addition, it owns the second largest Japanese whisky company, Nikka, which has a global distribution network that ThaiBev could leverage on to grow its international premium spirits portfolio on a global scale,&rdquo the analysts point out.   Meanwhile, UOBKH analysts Llelleythan Tan and Heidi Mo point out ThaiBev&rsquo s possible divestments, as its stake in Frasers Property TQ5 0.00% has been earmarked as a non-core asset and may potentially be divested. However, they believe this is unlikely given Frasers Property&rsquo s share price being at an all-time low.    &ldquo On the other hand, ThaiBev&rsquo s stake in Fraser and Neave (F& N) is considered a strategic investment given the operating synergies and collaborations with ThaiBev&rsquo s nonalcoholic beverages segment. However, management did mention that if the valuation was acceptable, the group would consider divesting its F& N stake,&rdquo they add.   In response to future growth drivers for the spirits segment, ThaiBev mentioned that the group has implemented a premiumisation strategy to attract a different customer profile and improve its international spirits portfolio.    UOBKH analysts note that this was driven by the recent acquisitions of Larsen cognac and Cardrona Distillery in FY2023, which boast higher margins as compared with its domestic spirits stock-keeping unit (SKUs). Despite political tension in Myanmar, ThaiBev expects Grand Royal to continue its strong performance in FY2024.   Tan and Mo also expect ThaiBev&rsquo s beer subsidiary in Vietnam &mdash Sabeco &mdash to increase its average selling prices (ASPs) by 10%-15% in 2QFY2026 to pass on the higher excise taxes to customers.    &ldquo In anticipation of the ASP hikes, we reckon that this would induce forward buying from customers, resulting in higher sales volumes in 4QFY2025/1QFY2026. However, beer sales volumes would likely normalise subsequently in 2QFY2026 as demand tapers off, although this may be mitigated by consumers down-trading to ThaiBev&rsquo s mass-market beer portfolio,&rdquo they note.   UOBKH has a lower target price on ThaiBev at 57 cents compared to 70 cents previously due to the re-rating of the company&rsquo s peer EV/ebitda multiples since its last update, while DBS keeps its target price at 69 cents.