Carlsberg: share up, as RBC praises group's resilience

(CercleFinance.com) - On Friday morning, Carlsberg was one of the biggest risers on the STOXX Europe 600 index, buoyed by a note from RBC, which judged that the stock's risk profile had become more favourable.


The Canadian broker, which expects the Danish brewer's business to prove resilient, raised its recommendation to "outperform", compared with "sector perform" until now.

It has raised its target price to 1,020 DKK, from 890 DKK previously.

According to the broker, brewers are well on their way to taking market share from spirits groups due to the recent surge in their investments.

It adds that Carlsberg is the only company in the sector with no exposure to commercial risk and the threat of a slowdown in US consumption.

RBC also points to the group's cautious forecasts, which it says are based on the absence of any improvement in economic conditions.

Shortly before 11:00 am, Carslberg shares jumped almost 4%, making it the fourth-biggest winner on the STOXX Europe 600 index.


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