Carlsberg initiated with a Hold at Berenberg

Berenberg initiated coverage of Carlsberg (CABGY) with a Hold rating and DKK 1,033 price target The macro environment “has not been kind to the beverages sector, but it could be changing, thanks partly to the Trump administration and partly to lower inflation,” the analyst tells investors in a research note. The firm initiated coverage of 12 stocks and its top pick is Heineken. There is also “interesting upside” in AB InBev and Molson Coors, says Berenberg.