Tsingtao Brewery Company Limited (NASDAQ:TSGTY) was upgraded by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $22.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 13.81% from the stock’s previous close.

According to Zacks, “Tsingtao Brewery Company Limited engages in the production and distribution of beer products in the People’s Republic of China. The Company sells its beer under the trademark of TSINGTAO BEER. The company also engages in prepackaged food accommodation and design, manufacture and distribution of tea beverages. It also offers malt, car rental services, warehousing, packaging, logistic services and travel services. In addition, it imports and exports beer and involves in waste material recycling. Tsingtao Brewery Company Limited is based in Qingdao, the People’s Republic of China. “

Tsingtao Brewery Company Limited (NASDAQ:TSGTY) remained flat at $19.33 during trading on Tuesday. Tsingtao Brewery Company Limited has a 12-month low of $16.38 and a 12-month high of $25.52. The firm’s 50 day moving average is $18.00 and its 200-day moving average is $18.16. The company has a market capitalization of $2.61 billion and a PE ratio of 10.98.

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About Tsingtao Brewery Company Limited

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