Tsingtao Brewery price target raised to HK$70 from HK$68 at Bernstein

Bernstein raised the firm’s price target on Tsingtao Brewery to HK$70 from HK$68 and keeps an Outperform rating on the shares. The company reported a weaker than expected top line and EBIT excluding government grants flat year-over-year, the analyst tells investors in a research note.