Carlsberg: Liberum ups target price, but maintains 'hold'

(CercleFinance.com) - Liberum has raised its target price on Carlsberg from 745 Danish kronor to 790 Danish kronor, although it sticking to its "hold" rating on the stock, citing tough comparable numbers and cost inflation.


"We struggle to get excited about the shares because Carlsberg is unlikely to deliver a blowout year in 2019 given the tough comp base and rising cost environment," the British broker writes in a note.

"Despite Carlsberg's best efforts and strong 2018 delivery, we prefer our "buy" rated AB InBev and Heineken which are more attractively priced with stronger competitive advantages," it says.

Carlsberg shares are currently up 0.7% at 785.4 Danish kronor.

Copyright (c) 2019 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.