Royal Unibrew: shares down after Jefferies initiates
(CercleFinance.com) - Shares in Royal Unibrew fell by up to 1% on Wednesday after Jefferies initiated coverage of the stock with an "underperform" rating and a target price of 400 Danish kronor.
In a report Jefferies said that it sees the Danish brewer as a "uniquely tailored and well-managed multi-beverage business", but notes its current valuation (trading at a 20% premium to peers) means a risk of de-rating.
At 15:45 this afternoon, Royal Unibrew shares were down 0.7% at 464.8 Danish kronor.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
In a report Jefferies said that it sees the Danish brewer as a "uniquely tailored and well-managed multi-beverage business", but notes its current valuation (trading at a 20% premium to peers) means a risk of de-rating.
At 15:45 this afternoon, Royal Unibrew shares were down 0.7% at 464.8 Danish kronor.
Copyright (c) 2019 CercleFinance.com. All rights reserved.