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

Shares of Tsingtao Brewery Company Limited (NASDAQ:TSGTY) remained flat at $19.33 on Tuesday. 130 shares of the company’s stock were exchanged. The stock has a 50 day moving average of $18.00 and a 200-day moving average of $18.16. Tsingtao Brewery Company Limited has a 1-year low of $16.38 and a 1-year high of $25.52. The stock has a market capitalization of $2.61 billion and a price-to-earnings ratio of 10.98.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/tsingtao-brewery-company-limited-tsgty-upgraded-to-buy-by-zacks-investment-research.html

About Tsingtao Brewery Company Limited

5 Day Chart for NASDAQ:TSGTY

Get a free copy of the Zacks research report on Tsingtao Brewery Company Limited (TSGTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tsingtao Brewery Company Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tsingtao Brewery Company Limited and related companies with MarketBeat.com's FREE daily email newsletter.