Morningstar senior stock Analyst Jennifer Song reported that Kweichow Moutai's stock price appears to be undervalued and noted that the preliminary performance of this Chinese Baijiu producer for 2024 is basically in line with expectations. The company continues to expect that the demand for Moutai products remains relatively resilient. The Analyst stated that Moutai's "unique cultural status, unparalleled brand image, and excellent product quality" put it in the best position to benefit from the trend of premiumization in China's beverage industry. The company remains Morningstar's top pick in the Chinese Baijiu Industry. Morningstar maintains the fair value estimate of the stock at 1,780.00 RMB.