Tsingtao Brewery Company Limited (TSGTY) Upgraded to Buy by Zacks Investment Research
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.
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About Tsingtao Brewery Company Limited
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