Goldman Sachs: Continues to bullish on the beverage sector, despite increasing competition, as product cycles are steady and profitability is predictable.

Goldman Sachs released a research report stating that they continue to be optimistic about the beverage sector, which is a sub-sector they prefer among essential consumer goods. The firm believes that the beverage industry will maintain sales growth in the long term, providing support for profit growth prospects in 2025. They have raised their net profit forecast for food and beverage companies by up to 9%, and adjusted their target price by +7% to +25%, primarily reflecting factors such as cost efficiency, product cycles, and valuation extensions from 6 months to mid-2026. The firm reiterated their buy ratings for Danone, Master Kong Holdings, CR Beverage, and Nongfu Spring.