Getty Images Brewer Carlsberg’s Tuborg brand is increasingly ‘getting traction.’Danish beer behemoth Carlsberg could fit the bill for long-term investors thirsting for an undervalued, but promising, consumer stock. The Copenhagen company CARLB, -0.40% appears on track to better profitability, says Morten Imsgard, a senior analyst at Denmark’s Sydbank. “They’ve embarked on this journey to optimize costs, optimize the portfolio, and get rid of noncore brands later than most of the brewers,” he says. “We’re going to see Carlsberg, over a period of some years, close the earnings gap with some of the industry’s best players. They have a lot of low-hanging fruit still to be picked.” Imsgard sees the operating margin rising by at least two percentage points in coming years, from around 15% now. He’s encouraged by results out this month that showed good growth for Carlsberg’s premium beers, such as Tuborg and Grimbergen, which command higher prices and provide fatter profits. “They are getting some traction,” he observes. “The Tuborg brand is doing very, very well in Asia.”via