Carlsberg: A Margin Of Safety On Tap

Carlsberg A/S (CABGY) is rated BUY, offering defensive exposure through premiumization and geographic expansion, notably with the Britvic acquisition. Trading at a forward P/E of 13.5, CABGY presents a margin of safety versus peers, with robust financial health and a low beta profile. Management targets deleveraging to a 2.5x NIBD/EBITDA ratio by 2027, supporting resilience amid macro volatility and rising input costs.