UBS has upgraded Shanghai Bairun Investment to a Buy rating, raising the target price to RMB 30.36 from RMB 20.60, driven by optimism in the company's whisky business, which is expected to boost sales despite challenges in the ready-to-drink wine segment. The first quarter of 2025 showed an 11% improvement in RTD wine sales, and UBS anticipates further positive results in the second quarter. The stock is currently trading at a P/E ratio of 31x, significantly below its historical average, indicating potential for growth recognition in the market.