Carlsberg: Cheap Valuation With Positive Organic Growth Outlook

THORKILD AMDI/AFP via Getty Images Overview My recommendation for Carlsberg (OTCPK:CABGY) is a buy rating as I believe growth can revert back to mid-single-digit as guided, with margin expanding as gross margin improves to pre-covid levels on the back of the premiumization trend and operational leverage. Valuation should also rerate back to CABGY average trading levels as the market becomes convinced that CABGY mid-single-digit growth is achievable and sustainable. Business Carlsberg is a well-known brand a ...