(News Bulletin 247) – AlphaValue announced on Wednesday that it had raised its recommendation on Carlsberg stock to “accumulate” against “reduce” so far, welcoming an investment file that has become “simpler” after the withdrawal from Russia.
Despite an economic situation deemed ‘tense’, the research department says it expects volumes up 0.7% for the Danish brewer this year, as well as organic growth of 6.5% in its annual operating profit.
The Parisian firm, which had only forecast growth of 3% previously, explains the upward revision of its estimates by the strength of prices and the cost reductions generated by the Copenhagen group.
Its target price of 1,152 crowns shows an upside potential of 15.5%.
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