Thai Beverage Sector's Impact From Middle East Tensions Likely Priced In — Market Talk

About this update from Osotspa Public Co. Ltd.

The Middle East conflict's impact on the Thai beverage sector is likely mostly priced in, with shares of Osotspa and Carabao Group still trading 8% and 10% below preconflict levels, respectively, Maybank Securities (Thailand)'s Tanida Jirapornkasemsuk says in a note. The brokerage upgrades Osotspa to buy from hold and raises the target price to 18.40 baht from 15.10 baht. It cites the Thai company's superior cost control, which should support 5% EPS growth and 5% dividend yield in 2026. The brokerage maintains Carabao Group at hold, but raises the target price to 40.00 baht from 36.00 baht as it lifts the valuation multiple for both Carabao Group and Osotspa. Shares of Osotpsa and Carabao Group are last at 16.00 baht and 40.75 baht, respectively. ([email protected])

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