World: Deutsche Bank raises its price target on Carlsberg

Deutsche Bank reaffirms its 'buy' recommendation on Carlsberg, the stock that replaces Heineken as first choice in the European beverage sector, with a price target raised from 1,100 to 1,200 Danish kroner, MarketScreener reported on July 10.

The broker updates its estimates for the Danish brewer, to reflect the terms of its recommended offer for Britvic, as well as its purchase of Marston's minority stake in Carlsberg Marston's Limited.

Based on its new estimates, Carlsberg trades on a 2025 P/E of 13.8 times, representing discounts of 29% to the share's five-year average P/E or 27% to European commodities.

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