CARL B Carlsberg A/S Class B

Carlsberg Foundation sale of shares in connection with Carlsberg A/S share buy-back programme

Carlsberg Foundation sale of shares in connection with Carlsberg A/S share buy-back programme

Please see attached document.

Attachment

EN
13/07/2020

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Reports on Carlsberg A/S Class B

Jesper Ingildsen
  • Jesper Ingildsen

Carlsberg (Buy, TP: DKK1110.00) - Probably a good start to the year

We expect the Q1 results to show Carlsberg had a good start to the year (due at 07:30 CET on 30 April). Slightly above consensus, we forecast c2% volume growth YOY and c6% organic revenue growth. Given Q1 is seasonally a small quarter, we believe the FY guidance could be kept for now, but that it remains conservative as usual, and see room for increases during the year. We reiterate our BUY and DKK1,110 target price.

Carlsberg AS: 1 director

A director at Carlsberg AS sold 38,527 shares at 928.050DKK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...

Jesper Ingildsen
  • Jesper Ingildsen

Carlsberg (Buy, TP: DKK1110.00) - Refreshing long-term targets

The main positive surprise with the results was the new, higher long-term top-line growth guidance, which despite concerns did not come at the expense of lower margins. While the 2024 guidance was weaker than expected, it should be seen in light of increased investment related to the new targets. We reiterate our BUY and DKK1,100 target price.

MarketLine Department
  • MarketLine Department

Heineken N.V. - Mergers & Acquisitions (M&A), Partnerships & Alliances

Summary Marketline's Heineken N.V. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Heineken N.V. - Mergers & Acquisitions (M&A), Partnerships & Alliances since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports...

Jesper Ingildsen
  • Jesper Ingildsen

Carlsberg (Buy, TP: DKK1110.00) - Conservative guidance brewing

2024 is looking solid but, as in previous years, we expect Carlsberg to issue a conservative FY guidance when it reports its Q4 results (due at 08:00 CET on 7 February). We view any major changes in its upcoming strategy review as unlikely; rather we expect management to reiterate its long-term targets. We reiterate our BUY and DKK1,110 target price.

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