DENMARK: UBS raises Carlsberg rating
Investment house UBS has raised its rating on shares in Danish brewing combine Carlsberg AS from "reduce" to "neutral". The bank has also increased its target price for Carlsberg from DKK315 to DKK330.
The upgrade stemmed from an increase in the equity valuation of the Carlsberg/Scottish & Newcastle Russian joint venture Baltic Beverages Holding (BBH) from EUR2.7bn to EUR3.1bn. UBS also increased its target price on S&N from GBP4.50 to GBP4.70.
UBS reckons BBH will be able to increase volumes and reduce capital spending.
Carlsberg has finally hooked up with a state-owned Vietnamese brewer....
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...
Scottish & Newcastle and Carlsberg said today that their Eastern European joint venture Baltic Beverage Holdings had seen sales volumes lift 14% in the first quarter of the year, compared to the same ...
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....
Baltika has bought into a Siberian brewer....
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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