Carlsberg AS Class B

CARL B: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 986.00	Msr	Tgqstbvjj

Carlsberg: We Hope for Share Gains as New CEO Takes Reins

Philip Gorham

Sep 22, 2023

Jacob Aarup-Andersen has assumed his role as CEO of Carlsberg, slightly earlier than expected, replacing Cees 't Hart after eight successful years. This has no effect on our DKK 970 fair value estimate, our no-moat rating, or our view that the shares are fairly valued.

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