Denmark: Carlsberg upgraded to "buy" by Jyske Bank
Analysts at Jyske Bank announced on September 29 they have upgraded the Danish brewery Carlsberg from "reduce" to "buy". The target price has been raised to DKK420.
In a research note published on September 28, the analysts mention that the company has indicated that it targets to reduce its production facilities in Europe by 50%. Carlsberg is expected to shut down 14 of its breweries over an undetermined period of time, the analysts say. This development reflects Carlsbergs ability to increase profitability through a continued strong focus on costs, Jyske Bank adds.
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .