Deutsche Bank raises target price on Coca-Cola Hellenic
Coca-Cola HBC AG (CDI)
2,760.00p
15:44 15/11/24
-0.29%
-8.00p
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.
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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