Zacks Investment Research upgraded shares of Tsingtao Brewery Company Limited (NASDAQ:TSGTY) from a strong sell rating to a buy rating in a research note published on Tuesday. They currently have $22.00 price target on the stock.

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 Company Limited (NASDAQ:TSGTY) opened at 19.33 on Tuesday. Tsingtao Brewery Company Limited has a 1-year low of $16.38 and a 1-year high of $25.52. The stock’s 50 day moving average is $18.04 and its 200 day moving average is $18.16. The firm has a market capitalization of $2.61 billion and a price-to-earnings ratio of 10.98.

About Tsingtao Brewery Company Limited

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