Tuesday, 18 January 2011

OSK Research: Carlsberg to fare well in 2011

OSK Research: Carlsberg to fare well in 2011
Written by theedgemalaysia.com
Friday, 14 January 2011 08:45

KUALA LUMPUR: OSK Research said Carlsberg Malaysia Bhd will fare well in 2011 although intense competition will persist vis-à-vis its rival, Guinness Anchor.

It said on Friday, Jan 14 the upbeat macro factors create favourable conditions for market growth this year.

“Upgrading our earnings estimates for 2011 and going forward, we derive a higher target price for Carlsberg of RM7.20 from RM6.50 previously.

“The stock is maintained a BUY. We see Carlsberg paying a higher gross dividend of 35 sen per share versus 27.5 sen previously, translating into a gross yield of 5.4% for FY11,” it said.

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