1134 GMT - Carlsberg shares look oversold at current levels, Jefferies analysts Edward Mundy and Sebastian Hickman write. Shares closed 7.1% lower Thursday after the brewer reported its first-half earnings. Jefferies says the price drop, despite a fairly innocuous earnings report, is commensurate to the drop following the 2022 Russia-Ukraine invasion. "This capitulation represents a more compelling buying opportunity in our view." As external volatility eases, growth should accelerate, with investment underwritten by the company's productivity program, Jefferies says. Shares should re-rate as confidence builds in organic sales growth and a China recovery becomes visible, it adds. Shares rise 0.6%. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
August 15, 2025 07:34 ET (11:34 GMT)
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