Carlsberg: Solid 2023 Results, But Value Case Still Not Compelling

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Carlsberg (OTCPK:CABGY)(OTCPK:CABJF) stock has been on a tough run since I last covered the company in May. Shares of the Danish brewer have delivered a negative 18% total return in that time, significantly underperforming peers Heineken (OTCQX:HEINY)(OTCQX:HINKF) and Anheuser-Busch InBev (BUD) as well as global staples more generally.…

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