Carlsberg Rises 3% as Danske Says Good Value Remains Despite Russia Exit

• (PLX AI) - Carlsberg shares rose 3% in early trading as analysts at Danske Bank reiterated a buy recommendation on the stock.
• • Carlsberg still has good value despite the Danish brewer's exit from Russia, the analysts said
• • Danske kept its price target of DKK 1,150 unchanged, as it had already removed Russia operations from their estimates before the announcement
• • Leaving Russia is not only a negative, as the Russia business was already dilutive to the Group before the war, Danske said
• • Meanwhile, Handelsbanken analysts said Carlsberg is likely to put its share buyback program on hold until it brings its debt back to an acceptable level, but will not have to sell new shares