บทวิเคราะห์ (Research)

CBG : Company update - More domestic energy drink market share We maintain BUY, increase TP by 9% (to THB97), as we increase EPS by 4-6% in 2025F-2026F, from: 1) 2-3% upward revision of revenues as management expects to gain 3% market share for the domestic energy drink in 2025 (to 29%), 2) gross margin to expand 0.2ppt (to 27.6%) from better economies of scale due to strong growth. We think the domestic market share gain could be a positive catalyst to the share price.