(Yicai Global) Aug. 14 -- Shares of Kweichow Moutai, the world's most valuable distiller, reached another record high in trading today, touching CNY1,051.40 (USD149.30) as a number of analysts issued bullish reports and raised their price targets for the stock.

Kweichow Moutai's stock price [SHA:600519] ended 2.5 percent higher at CNY1,043.33. Shares in the century-old liquor company have soared about 77 percent so far this year.

The Guizhou province-based company said over the weekend that it plans to restructure its dealer channels and set up a separate sales firm while cutting the number of its distributors. Boosted by the news, its shares have gained 8.5 percent over three straight trading sessions this week.

Dongxing Securities led the positive sentiment among brokerages, raising its price target for Kweichow Moutai to CNY1,424 a share, about 36.5 percent higher than today's close, and kept its "strongly recommended" rating. Demand for high-end liquor will remain strong, the brokerage said in a new research report, projecting Moutai's net profit at CNY440.7 billion this year and at CNY596.1 billion and CNY767.6 billion over the next two.

Overseas investors have become the stock's main buyers. Northbound funds from Hong Kong have flooded into the stock for five consecutive trading days as of yesterday, with a total net inflow of CNY1.1 billion (USD157.9 million).

Moutai's marketing plan has been implemented smoothly and the firm is expected to achieve sustained growth, CITIC Securities said in its latest report. Output is expected to continue rising in the short term. Its strong brand name will support steady retail price growth and underpin the company's long-term performance growth and investment value in the long run. CITIC Securities maintained its "buy" rating on Moutai and raised its price target to CNY1,200.

Pacific Securities set a goal for the shares of CNY1,240 and stuck to its "buy" rating because of Moutai's leader premium and ongoing strong performance, it said.