UBS maintains a 'Buy' rating for CHINA FOODS due to its resilient sales growth in carbonated beverages and energy drinks, despite a decline in juice revenue. The company has shown strong early sales growth this year and has locked in PET costs, which supports profit margins. Additionally, new distribution channels are contributing to growth, and management expects long-term profit margins to improve through operational leverage. However, the target price has been slightly adjusted downwards due to changes in earnings forecasts.
