Tsingtao Brewery Co Ltd (NASDAQ:TSGTY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $23.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 3.37% from the stock’s current price.
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 Co (NASDAQ:TSGTY) traded up 4.46% during trading on Wednesday, hitting $22.25. The stock had a trading volume of 8,491 shares. The company has a market cap of $3.00 billion and a price-to-earnings ratio of 11.41. Tsingtao Brewery Co has a 52-week low of $16.38 and a 52-week high of $22.50. The company has a 50-day moving average price of $19.37 and a 200-day moving average price of $19.31.
Tsingtao Brewery Co Company Profile
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