Deutsche Bank raises target price on Coca-Cola Hellenic

Analysts at Deutsche Bank raised their target price on Coca-Cola Hellenic from 2,475.0p to 2,525.0p on Wednesday, stating they were expecting "another solid release" from the firm.

Deutsche Bank said Coca-Cola's interim results "should" demonstrate underlying progress, with the analysts anticipating organic volume growth of 3.9%, organic sales growth of 14.4%, and organic underlying earnings growth of -5.1%.

The German bank also expects reported sales of €3.98bn and reported underlying earnings of €349.0m on an EBIT margin of 8.7%.

"We believe the company will reinstate guidance for FY22 and expect -8.6% organic EBIT growth," said DB, which also reiterated its 'buy' rating on the stock.

Reporting by Iain Gilbert at Sharecast.com