UK: Carlsberg rating shifted upwards
Carlsberg's recommendation has been raised by Merrill Lynch. The broker yesterday upped its recommendation on the Danish brewer to "buy" from "neutral," following its 2003 results and buyout of Orkla in Carlsberg Breweries.
Merrill Lynch slightly downgraded its headline per-share earning forecast for 2004 to DKK16.1, but raised its "clean" EPS forecast by 25% to DKK28.4.
In a statement, the broker said: "Due to the balance sheet leverage it now has, the valuation argument is compelling though and the changes to the structure of the company, along with the promotion of Nils Anderson to CEO of Carlsberg A?S are positive moves too."
Carlsberg has finally hooked up with a state-owned Vietnamese brewer....
Carlsberg has entered into negotiations with the IBM Group regarding a possible outsourcing of the Danish brewer's IT services in Europe....
Carlsberg's rating has been lowered following its disappointing Q1 figures earlier this week....
Carlsberg said today that global beer volume showed a 20% increase in the first quarter of the year driven by strong organic growth in BBH as well as a considerable contribution from acquisitions, inc...
Carlsberg has appointed a managing director for its Chinese operations....
Carlsberg has increased its ownership in Carlsberg Brewery Malaysia Berhad from 49.66% to 51%. The investment amounts to approximately US$6m....
Dutch brewer Heineken is rumored to have released a self-chilling beer can....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
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