Goldman Sachs raises target price of TSINGTAO BREW (00168) to 60 Hong Kong dollars. Rating: "Buy"

Goldman Sachs released a research report stating that TSINGTAO BREW (00168) sales and regular net profit last year met expectations. The firm raised the group's sales forecast for 2025 to 2027 by 2 to 4%, and believes that compared to mass market products, high-end products this year will have a more noticeable recovery. The firm raised Tsingtao Brewery's earnings forecast for 2026 to 2027 by 5%, while expecting sales to increase by 3% year-on-year in the first quarter of this year. The firm raised Tsingtao Brewery's target price from HK$59 to HK$60, with a "buy" rating.