OSK Ups Carlsberg Brewery Malaysia Target To MYR8.00

 OSK Research raises Carlsberg Brewery Malaysia (2836.KU) price target to MYR8.00 from MYR7.20 after increasing its FY11 net profit forecast by 5.4%; the house keeps a Buy rating. The house says the company's 1Q net profit was ahead of its expectations, accounting for 35% of its full-year forecast. "Our dividend expectation for CAB is also revised higher to 39 sen per share gross upon accounting for higher profits and payout ratio assumption," the house says. The stock is up 2.4% at MYR7.40.