Beverages: Q1 2020: Carlsberg is our top pick
BeveragesQ1 2020: Carlsberg is our top pick
A clear outperformance of Carlsberg and Royal Unibrew last year
What we see for Q1 2020
Still playing Carlsberg in Q1 for three reasons:
Some cautiousness on Pernod Ricard
Carlsberg is engaged in the production and sale of beer and other beverages. Co.'s brewing operations are concentrated in Northern and Western Europe, Eastern Europe and Asia, while markets outside these regions are serviced through exports and production under license. Co.'s other beverages include soft drinks, water and cider. In addition to beverage activities, Co. is also engaged in real estate.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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