The investment bank, UBS Warburg, has upgraded the leading Chinese brewing group, Tsingtao, from “neutral” to “buy”. The bank’s decision stemmed partially from Tsingtao’s stated aim of turning around the loss-making breweries it has recently acquired.
UBS Warburg has also raised its 12-month target price on Tsingtao from HK$4.8 to HK$6.7.
Go deeper with GlobalData
