On Thursday at 10:01 AM (Bangkok time), the share price of Ichitan Group Public Company Limited (SET: ICHI) rose by 1.60% or THB 0.20 to THB 12.70, with a trading value of around THB 930,000.
Carabao Group Public Company Limited (SET: CBG) increased by 0.80% or THB 0.50 to THB 63.25, with a trading value of THB 25.08 million.
Osotspa Public Company Limited (SET: OSP) grew by 0.65% or THB 0.10 to THB 15.50, with a trading value of THB 2.21 million.
Sappe Public Company Limited (SET: SAPPE) surged by 2.01% or THB 0.75 to THB 38.00, with a trading value of THB around THB 920,000.
Finansia Syrus Securities (FSS) revealed to ‘Kaohoon’ that since March 2025, Thailand has officially entered its summer season, leading to a resurgence in the sales of beverage companies. The analyst recommends investing in four standout beverage stocks, with a focus on companies whose domestic sales exceed international sales, listed from highest to lowest.
The recommendation is to ‘Buy’ shares of three leading beverage companies: 1. ICHI with a target price of 17 baht per share. 2. OSP with a target price of 28 baht per share. 3. CBG with a target price of 88 baht per share. The fourth notable stock, recommended as ‘Hold,’ is SAPPE with a target price of 80 baht per share.
For ICHI, the company is highlighted as the most prominent in the Thai beverage sector, with anticipated sales growth from March 2025, increasing production rates. Recently, ICHI added a new Original Equipment Manufacturing (OEM) client, bolstering their portfolio after experiencing a sales slowdown from January to February due to prolonged cold weather. Additionally, the company also secured popular actresses “Ling-Om” as brand ambassadors to boost sales among Chinese consumers.
ICHI’s executives disclosed that the company has gained a significant customer, Taokaenoi Food & Marketing Public Company Limited (SET: TKN), to produce beverages, though details remain private due to ongoing negotiations.
FSS expected ICHI’s outlook for 2Q25 to show a robust operational growth, aligning with increasing sales and production orders.
Regarding ICHI’s land negotiations at Rojana Industrial Park, the partnership is expected to proceed with purchasing rather than leasing the land. In initial negotiations, the partners received partial support from the Board of Investment (BOI) but the company insisted on selling the entire plot.
Following such developments, the sale has been postponed, and partners are seeking additional BOI support to cover the full plot. The deal and registration may complete as early as 2Q25 or by 3Q25 at the latest, with continued growth anticipated through 2025 for the company.
As for OSP, the company stands to benefit following ICHI, thanks to its diverse beverage portfolio, including energy drinks like M-150, functional drinks, and electrolyte beverages. Meanwhile, CBG primarily offers energy drinks.
For SAPPE, the company is expected to experience a sales slowdown, benefiting the least from the summer, as a significant portion of its sales come from abroad, where weather conditions vary. Therefore, FSS recommended a ‘Hold’ rating for the firm.
