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Carlsberg AS (DE:CBGB)
XETRA:CBGB
Germany Market

Carlsberg AS (CBGB) Stock Forecast & Price Target

8 Followers
See the Price Targets and Ratings of:

CBGB Analyst Ratings

Moderate Buy
5Ratings
Moderate Buy
4 Buy
0 Hold
1 Sell
Based on 5 analysts giving stock ratings to
Carlsberg
AS
in the past 3 months
TipRanks enables you to focus on the analyst rating consensus of all analysts or only the top performers​ in the past 3 months

CBGB Stock 12 Month Forecast

Average Price Target

€145.82
▲(25.17% Upside)
Based on 5 Wall Street analysts offering 12 month price targets for Carlsberg AS in the last 3 months. The average price target is €145.82 with a high forecast of €196.65 and a low forecast of €103.68. The average price target represents a 25.17% change from the last price of €116.50.
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<span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 3,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 4, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 1</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":97.558,"date":1759276800000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Moderate Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 5,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 7, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 3</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":98.67,"date":1761955200000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n          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6,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 4, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 1</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":113.809,"date":1769904000000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 7,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 5, \t&nbsp;</span>\n              <span  style=\"color:#912767\">Sell 3</span>\n      ","marker":{"lineColor":"#199ca5","enabled":true,"symbol":"circle"}},{"y":125.611,"date":1772323200000,"info":" <span style=\"color:#199ca5\" class=\"mb3 mt2 fonth8_semibold\"> Strong Buy</span>\n            <div class=\"flexrcb px3 displayflex fonth9_semibold\"><span  style=\"color:#199ca5\">Buy 7,\t&nbsp; </span>\n              <span  style=\"color:#828080\">Hold 5, \t&nbsp;</span>\n   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Highest Price Target€196.65Average Price Target€145.82Lowest Price Target€103.68
The highest, average, and lowest price target of all analysts. Click on ‘Top Analysts’ to focus on the best performers.

Detailed List of Analyst Forecasts​

Detailed List of Analyst Forecasts​
Analyst Profile
Expert Firm
Price Target
Position
Upside / Downside
Action
Date
Follow
Article
Morgan Stanley Analyst forecast on DE:CBGB
Morgan Stanley
Morgan Stanley
€137.79€142.47
Buy
22.29%
Upside
Reiterated
08/27/26
Carlsberg price target raised to DKK 1,065 from DKK 1,030 at Morgan StanleyCarlsberg price target raised to DKK 1,065 from DKK 1,030 at Morgan Stanley
Berenberg Bank
€145.82
Buy
25.17%
Upside
Reiterated
08/24/26
Carlsberg AS (0AI4) Receives a Buy from Berenberg Bank
RBC Capital
€139.13€140.47
Buy
20.57%
Upside
Reiterated
08/20/26
Carlsberg price target raised to DKK 1,050 from DKK 1,040 at RBC CapitalCarlsberg price target raised to DKK 1,050 from DKK 1,040 at RBC Capital
Barclays
€104.21€103.68
Sell
-11.01%
Downside
Reiterated
08/19/26
Carlsberg AS (0AI4) Receives a Sell from Barclays
Bernstein
€192.64€196.65
Buy
68.80%
Upside
Reiterated
06/23/26
Carlsberg AS (0AI4) Receives a Buy from Bernstein
ABG Sundal Analyst forecast on DE:CBGB
Mikkel Rasmussen
ABG Sundal
Not Ranked
ABG Sundal
€125.75
Buy
7.94%
Upside
Upgraded
06/08/26
Kepler Capital  Analyst forecast on DE:CBGB
Kepler Capital
Kepler Capital
€123.08
Hold
5.64%
Upside
Reiterated
04/29/26
Carlsberg AS (0AI4) Receives a Hold from Kepler Capital
Citi
€145.82€141.8
Buy
21.72%
Upside
Reiterated
04/23/26
Carlsberg price target lowered to DKK 1,060 from DKK 1,090 at CitiCarlsberg price target lowered to DKK 1,060 from DKK 1,090 at Citi
Deutsche Bank  Analyst forecast on DE:CBGB
Deutsche Bank
Deutsche Bank
€155.18€157.86
Buy
35.50%
Upside
Reiterated
02/06/26
Carlsberg price target raised to DKK 1,180 from DKK 1,160 at Deutsche BankCarlsberg price target raised to DKK 1,180 from DKK 1,160 at Deutsche Bank
Nordea Markets Analyst forecast on DE:CBGB
Nordea Markets
Nordea Markets
€104.35
Sell
-10.43%
Downside
Downgraded
02/05/26
Carlsberg downgraded to Sell from Hold at NordeaCarlsberg downgraded to Sell from Hold at Nordea
Exane BNP Paribas Analyst forecast on DE:CBGB
Exane BNP Paribas
Exane BNP Paribas
€133.78
Buy
14.83%
Upside
Upgraded
01/12/26
Carlsberg upgraded to Outperform from Neutral at BNP ParibasCarlsberg upgraded to Outperform from Neutral at BNP Paribas
UBS
€108.36€141.8
Buy
21.72%
Upside
Upgraded
12/03/25
Carlsberg upgraded to Buy from Neutral at UBSCarlsberg upgraded to Buy from Neutral at UBS
J.P. Morgan
€113.71€130.43
Buy
11.96%
Upside
Upgraded
11/26/25
Carlsberg upgraded to Overweight from Neutral at JPMorganCarlsberg upgraded to Overweight from Neutral at JPMorgan
HSBC
€121.74€112.37
Hold
-3.54%
Downside
Reiterated
10/08/25
HSBC Sticks to Its Hold Rating for Carlsberg AS (0AI4)
Analyst Type
Any
Any
Human Analysts
Ranks
Any
Any
Analyst Rating
Any
Any
Upside/ Downside
Any
Any
Action
Any
Any
Analyst Profile
Expert Firm
Price Target
Position
Upside / Downside
Action
Date
Follow
Article
Morgan Stanley Analyst forecast on DE:CBGB
Morgan Stanley
Morgan Stanley
€137.79€142.47
Buy
22.29%
Upside
Reiterated
08/27/26
Carlsberg price target raised to DKK 1,065 from DKK 1,030 at Morgan StanleyCarlsberg price target raised to DKK 1,065 from DKK 1,030 at Morgan Stanley
Berenberg Bank
€145.82
Buy
25.17%
Upside
Reiterated
08/24/26
Carlsberg AS (0AI4) Receives a Buy from Berenberg Bank
RBC Capital
€139.13€140.47
Buy
20.57%
Upside
Reiterated
08/20/26
Carlsberg price target raised to DKK 1,050 from DKK 1,040 at RBC CapitalCarlsberg price target raised to DKK 1,050 from DKK 1,040 at RBC Capital
Barclays
€104.21€103.68
Sell
-11.01%
Downside
Reiterated
08/19/26
Carlsberg AS (0AI4) Receives a Sell from Barclays
Bernstein
€192.64€196.65
Buy
68.80%
Upside
Reiterated
06/23/26
Carlsberg AS (0AI4) Receives a Buy from Bernstein
ABG Sundal Analyst forecast on DE:CBGB
Mikkel Rasmussen
ABG Sundal
Not Ranked
ABG Sundal
€125.75
Buy
7.94%
Upside
Upgraded
06/08/26
Kepler Capital  Analyst forecast on DE:CBGB
Kepler Capital
Kepler Capital
€123.08
Hold
5.64%
Upside
Reiterated
04/29/26
Carlsberg AS (0AI4) Receives a Hold from Kepler Capital
Citi
€145.82€141.8
Buy
21.72%
Upside
Reiterated
04/23/26
Carlsberg price target lowered to DKK 1,060 from DKK 1,090 at CitiCarlsberg price target lowered to DKK 1,060 from DKK 1,090 at Citi
Deutsche Bank  Analyst forecast on DE:CBGB
Deutsche Bank
Deutsche Bank
€155.18€157.86
Buy
35.50%
Upside
Reiterated
02/06/26
Carlsberg price target raised to DKK 1,180 from DKK 1,160 at Deutsche BankCarlsberg price target raised to DKK 1,180 from DKK 1,160 at Deutsche Bank
Nordea Markets Analyst forecast on DE:CBGB
Nordea Markets
Nordea Markets
€104.35
Sell
-10.43%
Downside
Downgraded
02/05/26
Carlsberg downgraded to Sell from Hold at NordeaCarlsberg downgraded to Sell from Hold at Nordea
Exane BNP Paribas Analyst forecast on DE:CBGB
Exane BNP Paribas
Exane BNP Paribas
€133.78
Buy
14.83%
Upside
Upgraded
01/12/26
Carlsberg upgraded to Outperform from Neutral at BNP ParibasCarlsberg upgraded to Outperform from Neutral at BNP Paribas
UBS
€108.36€141.8
Buy
21.72%
Upside
Upgraded
12/03/25
Carlsberg upgraded to Buy from Neutral at UBSCarlsberg upgraded to Buy from Neutral at UBS
J.P. Morgan
€113.71€130.43
Buy
11.96%
Upside
Upgraded
11/26/25
Carlsberg upgraded to Overweight from Neutral at JPMorganCarlsberg upgraded to Overweight from Neutral at JPMorgan
HSBC
€121.74€112.37
Hold
-3.54%
Downside
Reiterated
10/08/25
HSBC Sticks to Its Hold Rating for Carlsberg AS (0AI4)
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Best Analysts Covering Carlsberg AS

3 Months
Sarah SimonMorgan Stanley
Success Rate
8/13 ratings generated profit
62%
Average Return
+4.64%
Copying Sarah Simon's trades and holding each position for 3 Months would result in 61.54% of your transactions generating a profit, with an average return of +4.64% per trade.
1 Year
Success Rate
8/12 ratings generated profit
67%
Average Return
+6.70%
Copying Sanjeet Aujla's trades and holding each position for 1 Year would result in 66.67% of your transactions generating a profit, with an average return of +6.70% per trade.
2 Years
Success Rate
8/12 ratings generated profit
67%
Average Return
+5.66%
Copying Sanjeet Aujla's trades and holding each position for 2 Years would result in 66.67% of your transactions generating a profit, with an average return of +5.66% per trade.
The Best Analyst Covering tool allows you to follow the analysts who have the best success rates and average returns on a specific stock. Only analysts that gave a Buy or Sell rating on the stock in the past 12 months are eligible for inclusion in this tool. Follow the analysts of your choice to receive real-time updates when they publish a new rating.

CBGB Analyst Recommendation Trends

Rating
May 26
Jun 26
Jul 26
Aug 26
Sep 26
Strong Buy
1
2
1
1
0
Buy
2
2
2
5
4
Hold
3
2
0
0
0
Sell
1
1
1
2
2
Strong Sell
0
0
0
0
0
total
7
7
4
8
6
In the current month, CBGB has received 4 Buy Ratings, 0 Hold Ratings, and 2 Sell Ratings. CBGB average Analyst price target in the past 3 months is 145.82.
Each month's total comprises the sum of three months' worth of ratings.

CBGB Financial Forecast

CBGB Earnings Forecast

Next quarter’s earnings estimate for CBGB is €4.34 with a range of €3.56 to €4.94. The previous quarter’s EPS was €3.04. CBGB beat its EPS estimate ― of the time in the past 12 months, while its overall industry beat the EPS estimate 50.49% of the time in the same period. In the last calendar year CBGB has Performed in-line its overall industry.
Next quarter’s earnings estimate for CBGB is €4.34 with a range of €3.56 to €4.94. The previous quarter’s EPS was €3.04. CBGB beat its EPS estimate ― of the time in the past 12 months, while its overall industry beat the EPS estimate 50.49% of the time in the same period. In the last calendar year CBGB has Performed in-line its overall industry.

CBGB Sales Forecast

Next quarter’s sales forecast for CBGB is €6.03B with a range of €5.95B to €6.11B. The previous quarter’s sales results were €6.29B. CBGB beat its sales estimates ― of the time in past 12 months, while its overall industry beat sales estimates 63.25% of the time in the same period. In the last calendar year CBGB has Performed in-line its overall industry.
Next quarter’s sales forecast for CBGB is €6.03B with a range of €5.95B to €6.11B. The previous quarter’s sales results were €6.29B. CBGB beat its sales estimates ― of the time in past 12 months, while its overall industry beat sales estimates 63.25% of the time in the same period. In the last calendar year CBGB has Performed in-line its overall industry.

CBGB Stock Forecast FAQ

What is DE:CBGB’s average 12-month price target, according to analysts?
Based on analyst ratings, Carlsberg AS’s 12-month average price target is 145.82.
    What is DE:CBGB’s upside potential, based on the analysts’ average price target?
    Carlsberg AS has 25.17% upside potential, based on the analysts’ average price target.
      Can I see which stocks the top-ranking analysts are rating?
      Yes, go to the Analysts’ Top Stocks tool to see stocks with a Strong Buy or Strong Sell analyst rating consensus, according to the top performers.
        How can I follow the stock ratings of top Wall Street analysts?
        Head over to our Expert Center to see a list of the top 100 Wall Street analysts and follow the analysts of your choice. Visit their profiles for more details about their stock ratings and see how they perform on a stock-by-stock basis.
          Is Carlsberg AS a Buy, Sell or Hold?
          Carlsberg AS has a consensus rating of Moderate Buy, which is based on 4 buy ratings, 0 hold ratings and 1 sell ratings.
            What is Carlsberg AS’s share price target?
            The average share price target for Carlsberg AS is 145.82. This is based on 5 Wall Streets Analysts 12-month price targets, issued in the past 3 months.
            The highest analyst share price target is €196.65 ,and the lowest forecast is €103.68. The average share price target represents 25.17% Increase from the current price of €116.5.
              What do analysts say about Carlsberg AS?
              Carlsberg AS’s analyst rating consensus is a Moderate Buy. This is based on the ratings of 5 Wall Streets Analysts.
                How can I buy shares of Carlsberg AS?
                To buy shares of DE:CBGB, you can open a brokerage account. See exclusive account opening deals on our Best Online Brokers page.