DJ Carlsberg Earnings, Guidance and Buyback to Drive Shares Higher -- Market Talk
0836 GMT - Carlsberg's FY earnings beat, narrower guidance and 1Q share buyback should drive shares higher, says Citi. Carlsberg beat 4Q and FY profit and earnings expectations, but the 2021 organic Ebit growth guidance range of 3%-10% is narrower and slightly better than hoped, it says. Management announced a DKK750 million share buyback for 1Q and will determine the size of additional buybacks on a quarterly basis. "These factors, coupled with likely small upgrades to F21 consensus estimates, should be enough to drive the shares higher today." Citi adds that technical buyback support and robust execution by the group should begin to drive a re-rating of the shares in the coming weeks. Shares trade 2.8% higher at DKK958.20. (email@example.com)
(END) Dow Jones Newswires
February 05, 2021 03:36 ET (08:36 GMT)
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