Carlsberg Gives Up Gains as Guidance Shows Uncertainty, Analysts Say

• (PLX AI) - Carlsberg shares gave up most of their morning gains, trading up only 0.6% as investors focused on continued uncertainty reflected in the company's new guidance, analysts said.
• • Carlsberg issued new outlook for 2022 of organic operating profit growth 0-7%, while consensus was at 6.7%
• • The guidance reflects continued uncertainty, while the 2021 result was slightly below expectations in Europe, partly offset by Asia, analysts at Kepler Cheuvreux said
• • Kepler reiterated a hold rating on Carlsberg, with price target DKK 1,190
• • The guidance could reflect Carlsberg's usual conservative approach, but may still lead to some modest downside to consensus organic EBIT, analysts at Bank of America said
• • BofA maintained a buy on Carlsberg, with price target DKK 1,380