The leading Chinese brewing group, Tsingtao, has been upgraded to "buy" from "neutral" by the investment bank, UBS Warburg. The bank has also raised its 12-month target price on Tsingtao from HK$4.8 to HK$6.7. “The bank's decision arose partially from Tsingtao's stated aim of turning around the loss-making breweries it has recently acquired,” UBS Warburg said.

15 April, 2003