Tuesday May 6, 03:09 PM
Carlsberg downgraded to "add"
By Dresdner Kleinwort Wasser.
LONDON, May 6 (newratings.com) - Analysts at Dresdner Kleinwort downgrade Carlsberg (ticker: CBCB) from "buy" to "add." The target price has been raised from DKK640 to DKK680.
In a research note published this morning, the analysts mention that
the company is expected to report a 4% fall in its 1Q EBIT, while posting losses of DKK5 million. With the completion of the S&N acquisition and in view of its financing plans until end-December, Carlsberg (Copenhagen: DCARLB.CO - news) is expected to announce a rights issue shortly, the analysts add. There is limited upside to the company's share price, Dresdner Kleinwort says.
© 2008 New Ratings
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