Carlsberg: Bryan Garnier upgrades 'Sell' rating
(CercleFinance.com) - Bryan Garnier has upgraded its rating on the Carlsberg stock from "sell" to "neutral," while raising its fair value by 3.
5% to 735 Danish kroner, following a 1.5% increase in operating profit estimates for 2018.
The broker explains that it has updated its FY earnings outlook for the brewer, so as to take into account solid growth in volumes in Western Europe in Q2, due to better weather conditions.
In support of its increased earnings estimate, the broker also mentions strong demand for beer in Eastern Europe, with the football world cup that is currently underway in Russia.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
5% to 735 Danish kroner, following a 1.5% increase in operating profit estimates for 2018.
The broker explains that it has updated its FY earnings outlook for the brewer, so as to take into account solid growth in volumes in Western Europe in Q2, due to better weather conditions.
In support of its increased earnings estimate, the broker also mentions strong demand for beer in Eastern Europe, with the football world cup that is currently underway in Russia.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.