Carlsberg Slips After Kepler Slashes Price Target by 25% on Russia, Ukraine Exposure

• (PLX AI) - Carlsberg shares slipped in morning trading after analysts at Kepler Cheuvreux slashed their price target on the stock by 25%.
• • Carlsberg price target cut to DKK 890 from DKK 1,190 at Kepler
• • The brewer has significant direct exposure to Russia and Ukraine, and despite recent downward pressure on the shares, the risk/reward doesn't justify a more positive view, Kepler said
• • Uncertainty surrounding Carlsberg remains significant, with risks also to its European and Chinese operations, according to the analysts
• • Kepler assigns zero value to Carlsberg's Russian operations and forecasts a slight decline in organic operating profit this year
• • However, recommendation remains buy