CABGY - Carlsberg is tipped by Deutsche Bank to boost guidance

Deutsche Bank keeps a Buy rating on Carlsberg A/S (OTCPK:CABGY) but clips its price target to 1040 Danish Krone from 1050 Danish Krone. Analyst Mitch Collett and team expect a strong start to the year for the multinational beer giant helped by a strong reopening and soft comparable despite headwinds to CEE from Ukraine. "On this basis, we expect 2Q organic volume growth of 5.3%, organic revenue growth of 16.1% with price/mix of 10.3%. For 1H we expect organic operating profit growth of 18.1% with organic margin -15bps YoY. We expect Carlsberg to reiterate guidance for organic operating profit growth of -5% to +2% (ex Ukraine -1% to +7%) but believe an upgrade is possible, given Carlsberg's track record of exceeding expectations and despite current volatility given our expectation for a strong start to the year." Carlsburg (OTCPK:CABGY) is due to report first-half results on August 17. See how Carlsburg

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Carlsberg is tipped by Deutsche Bank to boost guidance