Carlsberg downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Carlsberg (CABGY) to Underweight from Equal Weight with a price target of DKK 698, down from DKK 829.49. Carlsberg’s geographic outlook is increasingly challenged with issues in several end markets, the analyst tells investors in a research note. The firm says China is facing a severe demographic headwind while Carlsberg’s main market of Western Europe is also grappling with an ageing population and persistent lower per-capita consumption.