Analyst Reco. Carlsberg A/S

Equities

CARL B

DK0010181759

Brewers

Market Closed - Nasdaq Copenhagen Other stock markets 03:20:00 07/03/26 am AEDT			5-day change	1st Jan Change
911.60 ^DKK	-0.35%		-7.28%	+9.15%

06/03	India's Karnataka state to end alcohol price controls from April 2026	RE
23/02	Sources: Carlsberg Hires Advisors for IPO of Indian Unit - BN	FW

Analyst Reco.

20/02	HSBC Raises Target Price for Carlsberg to 1,060 Danish Kroner (from 840), Reiterates Hold - BN	FW
12/02	DNB Carnegie Raises Target Price for Carlsberg to 1,080 Danish Kroner (940), Reiterates Buy	FW
12/02	Jyske Bank Downgrades Carlsberg to Hold	MT
11/02	Jyske Bank Downgrades Carlsberg to Hold (Buy), Sets Price Target at 1,000 Danish Kroner - BN	FW
11/02	SEB Raises Target Price for Carlsberg to 1,010 Danish Kroner (840), Reiterates Hold	FW
10/02	Carlsberg Forecasts Raised as AlphaValue/Baader Europe Notes FY25 Results, Britvic Integration	MT
10/02	Oddo Raises Carlsberg Target Price to 1,100 Danish Kroner (from 1,015), Reiterates Outperform - BN	FW
10/02	Carlsberg: The Birth of a Full Beverage Champion
06/02	Morgan Stanley Raises Price Target for Carlsberg to 1,015 Danish Kroner (from 940), Reiterates Overweight - BN	FW
06/02	Deutsche Bank Raises Carlsberg Target Price to 1,180 Danish Kroner (from 1,160), Reiterates Buy Recommendation	FW
06/02	Berenberg Maintains Carlsberg Rating as FY25 Results Match Expectations	MT
06/02	Citigroup Raises Carlsberg Price Target to 1,090 Danish Kroner (from 1,040), Reiterates Buy - BN	FW
06/02	Nordea Bank Downgrades Carlsberg to Sell Rating	MT
06/02	Morningstar Downgrades Carlsberg to Hold, Raises PT	MT
05/02	RBC Raises Carlsberg Price Target, Estimates After FY25 Results	MT
05/02	Goldman Sachs Raises Carlsberg Price Target to 1,100 Danish Kroner (from 1,000), Reiterates Buy - BN	FW
05/02	Jyske Bank Raises Price Target for Carlsberg to 1,000 Danish Kroner (950), Reiterates Buy - BN	FW
05/02	Bernstein Raises Carlsberg Target Price to 1,430 Danish Kroner (from 1,390), Reiterates Outperform - BN	FW
05/02	Nordea Downgrades Carlsberg to Sell (Hold), Sets Price Target at 780 Danish Kroner	FW
05/02	BNP Paribas Exane Raises Carlsberg Price Target to 1,030 Danish Kroner (from 1,000), Reiterates Outperform - BN	FW
05/02	Barclays Raises Carlsberg Price Target to 785 Danish Kroner (from 769), Reiterates Underweight - BN	FW
05/02	Carlsberg: FY25 broadly in line with signs of China volume stabilization
03/02	BofA: Carlsberg's FY25 Outcome to Align with Consensus, Deliver 'Conservative' FY26 Guidance	MT
02/02	Carlsberg Expected to Report Adjusted Operating Profit of DKK 13,810 Million for 2025 - Euroland	FW
29/01	DNB Carnegie Raises Carlsberg Target Price to 940 Danish Kroner (from 910), Reiterates Buy	FW