Stock Name: CARLSBG
Company Name: CARLSBERG BREWERY MALAYSIA BHD
Kenanga Research initiated coverage of Carlsberg Brewery Malaysia Berhad with an "outperform" call, given the brewer's strength in the niche beer market.
The brewer has the second-biggest market share in Malaysia, at 40 percent. The firm's niche products will help the company expand market share by 1.5 percent by June, Kenanga said in a note on Thursday.
"Carlsberg is the leader in the super premium segment, albeit the segment is still relatively new and small," Kenanga said.
"We believe that Carlsberg will be better positioned to compete with Guninness Anchor Berhad with its new locally brewed Asahi and the fast-growing Kronenbourg."
Kenanga set a target price of RM14.10 per share.
At 9.38 am, Carlsberg shares were down 0.46 percent at RM13.02, while the benchmark composite index was up 0.22 percent at 1,676.95. -- Reuters
Company Name: CARLSBERG BREWERY MALAYSIA BHD
| Research House: KENANGA | Price Call: BUY | Target Price: 14.10 |
Kenanga Research initiated coverage of Carlsberg Brewery Malaysia Berhad with an "outperform" call, given the brewer's strength in the niche beer market.
The brewer has the second-biggest market share in Malaysia, at 40 percent. The firm's niche products will help the company expand market share by 1.5 percent by June, Kenanga said in a note on Thursday.
"Carlsberg is the leader in the super premium segment, albeit the segment is still relatively new and small," Kenanga said.
"We believe that Carlsberg will be better positioned to compete with Guninness Anchor Berhad with its new locally brewed Asahi and the fast-growing Kronenbourg."
Kenanga set a target price of RM14.10 per share.
At 9.38 am, Carlsberg shares were down 0.46 percent at RM13.02, while the benchmark composite index was up 0.22 percent at 1,676.95. -- Reuters
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