Carlsberg: Liberum remains a buyer after results.

(CercleFinance.com) - Liberum has confirmed its "buy" rating on the Carlsberg stock, along with its target price of 775 Danish kronor, after the Danish brewer reported H1 results that exceeded expectations.


The broker highlighted EPS of 15.1 Danish kronor, with operating profit of 4,125 million Danish kronor, which respectively outperformed the consensus by 12.4% and 6.2%, thanks to improvements in the group's gross and operating margins.

Liberum said that these results show that the group is on track to achieving its targets and savings from its efficiency drive, with the broker also pointing out that “Net Debt/EBITDA is now slightly above 1.6x, leaving scope to increase the dividend”.


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