[%CeDK%] 
Research by TA
Buy – TP RM24.10

" 2QFY24 Results Within Expectation”

Maintain our Buy recommendation on Carlsberg with a revised target price of RM24.10/share, after incorporating a 3% premium to account for the 4-star ESG initiative (k: 8.1%, g: 3.0%).  

Analyst:
Liew Yi Jiet 
[%pIKR%]

$KLSE-CARLSBG 
Research by TA
Buy – TP RM24.10

" 2QFY24 Results Within Expectation”

Maintain our Buy recommendation on Carlsberg with a revised target price of RM24.10/share, after incorporating a 3% premium to account for the 4-star ESG initiative (k: 8.1%, g: 3.0%).  

Analyst:
Liew Yi Jiet 
yjliew@ta.com.my

$CARLSBG / 2836 (CARLSBERG BREWERY MALAYSIA BERHAD)