A director at Carlsberg AS sold 25,684 shares at 907.760DKK 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 ...
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.
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.
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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.
Carlsberg’s Q3 organic revenue was largely in line, but focus was mainly on the Asia (excluding China) miss, especially the weaker exit rate comments for the region. With the 2023 guidance maintained by the new CEO on increased investments, focus shifts to the strategy review and 2024 outlook. We reiterate our BUY, but have lowered our target price to DKK1,100 (1,150).
We expect a lacklustre Q3 trading update, with sequentially lower growth on poor weather in Europe. However, we still see a possible re-rating from a potential 2023 guidance raise, likely solid performance in China and the new CEO’s first comments. We reiterate our BUY, but have cut our target price to DKK1,150 (1,275).
Summary Red Bull GmbH - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Red Bull GmbH (Red Bull) is a producer and marketer of energy drinks. The company’s product portfolio includes energy drinks, sugar-free drinks, and zero calories drinks. It also offers special ...
Carlsberg’s H1 earnings were stronger than expected, but were mainly driven by Western Europe, helped by pricing. However, the key growth driver Asia fell slightly shy of expectations. We do not see any major change to the investment case and expect further share-price support short-term from another likely increase to the new (in our view conservative) guidance later this year. We reiterate our BUY and DKK1,275 target price.
Summary Groupe HOLDER SAS - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights Groupe HOLDER SAS (Groupe HOLDER) is a producer of bakery products. The company offers a range of bakery and pastry products including ready-to-raise bread, pastries and catering services. T...
We expect a solid H1 report, above consensus, which we believe will support a further narrowing of the 2023 guidance as well as its premium valuation to peers. In our view, the company offers solid resilience in the current environment, helped by its strong balance sheet, and we reiterate our BUY and DKK1,275 target price.
We view the Q1 results as a strong start to the year and believe the narrowed 2023 outlook is still conservative, with room for further increases in the coming quarters. The stock continues to offer resilience in a tough macro environment in our view, helped by its strong balance sheet and solid exposure to China’s recovery. We reiterate our BUY and have raised our target price to DKK1,275 (1,235).
We expect Carlsberg to report a solid Q1 trading update (due at 08:00 CET on 27 April) and narrow its 2023 guidance significantly. In our view, the company offers solid resilience in the current environment, helped by its strong balance sheet, and good exposure to China’s recovery. We reiterate our BUY and have raised our target price to DKK1,235 (1,150).
The Q4 and H2 results were largely in line with our estimates and consensus, while we find the 2023 guidance conservative given Carlsberg’s track record of overachieving and upside potential as visibility increases. In our view, the company offers solid resilience in the current environment, helped by its strong balance sheet and good exposure to China’s recovery. We reiterate our BUY and DKK1,150 target price.
We expect the focus in the Q4 results (due at 08:00 CET on 7 February) to be on the 2023 guidance. We believe the guidance will be wide to reflect uncertainties, but conservative given Carlsberg’s track record of overachieving. In our view, the company offers solid resilience in the current environment, helped by its strong balance sheet, and good exposure to China’s recovery. We reiterate our BUY and DKK1,150 target price.
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