DENMARK: Carlsberg share ratings rise and fall
Carlsberg has had its share target raised by one analyst and cut by another.
The Danish brewer saw the moves today (27 September) following an analyst presentation in St Petersburg yesterday.
Lehman Brothers shifted its target for the shares north to DKK515 from DKK485. Goldman Sachs, meanwhile, sent its rating the other way, to DKK350 from DKK409 previously.
Lehman upped its coverage after Carlsberg's joint venture in Eastern Europe, Baltic Beverages Holding, posted a leap in Russian beer volume sales of 16% year-on-year during July and August. The rise compared favourably to an industry-wide increase in the same period of 14%.
"Given operational gearing and the successful integration of its operating subsidiaries in Russia, we believe BBH is on target to achieve above the 21% EBITA margin guidance," the analyst said.
While reiterating its 'overweight' rating on the shares, Lehman said it expects BBH to report a 21.5% EBITA margin for 2006, rising to 23% for 2007 and 24% for 2008.
Goldman Sachs, however, highlighted the brewer's shares as its best sell idea in beverages, and maintained a rating of 'sell'.
Carlsberg owns BBH jointly with Scottish & Newcastle.
Whether marketed as non-alcoholic beers or soft drinks, malt-based beverages are expected to grow as a category in the coming years. While the products are finding increasing acceptance among Muslim c...
Carlsberg-owned Ramlösa is to invest SEK65m (US$9.3m) to boost its bottling capacity and increase its mineral water exports by 10%....
Carlsberg is looking to lease brewing facilities in Copenhagen in order to brew its expaning range of speciality beers for the Danish market....
Carlsberg has signed a deal to handle Czech beer Budvar in Sweden....
Carlsberg is looking to boost sales in the US after finalising its import and distribution business across the Atlantic....
Britvic has appointed a former Carlsberg executive to lead the marketing efforts for its carbonates brands....
Carlsberg has refused to rule out further brewery closures in Western Europe this year....
The sale of one of Carlsberg's two breweries in Italy signals a stronger focus on the premium end of the market, according to the head of the Danish brewer's business in Western Europe. Speaking to ju...
- Diageo NA head on Trump, Millennials, Bourbon
- Has Millennial-mania drowned out elder consumers?
- Interview - Loch Lomond GTR head Andre de Almeida
- Absolut and Smirnoff's conflicting Millennial view
- Brown-Forman's H1 performance by region, brand
- Coca-Cola CEO Muhtar Kent set to stand down
- Diageo wine assets integration head to leave TWE
- Beam Suntory opens global headquarters in Chicago
- Brown-Forman's barrel sales take Scotch hit
- Absolut not "sufficiently focussed" on Millennials
- Luxury Alcoholic Drinks: The Spirit of Premiumisation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends