Denmark: Carlsberg’s EPS estimates lifted by Morgan Stanley to DKK22.62
Morgan Stanley raised Carlsberg EPS estimates following the better-than-expected trading update on the Russian joint venture BBH, Dow Jones Newswires released September 27. The bank lifts 06 EPS estimate to DKK22.62 from DKK21.93, 07 figure to DKK26.63 from DKK25.76 and 08 forecast to DKK31.47 from DKK30.55.
However Morgan Stanley estimates the company needs further earnings upgrades in order to sustain the current valuation of the share. It reiterates equalweight recommendation. Shares traded +1.7% at DKK487.
04 October, 2006