JP Morgan upgrades Coca Cola HBC, hikes target
Analysts at JP Morgan bumped up their recommendation on shares of Coca Cola HBC, pointing out how the European Beverages sector had proved more resilient than competitors beer or spirits to the volatile macroeconomic backdrop.
Barr (A.G.)
615.00p
16:40 13/11/24
-0.81%
-5.00p
Beverages
19,502.17
17:14 13/11/24
-0.49%
-95.14
Britvic
1,288.00p
17:15 13/11/24
0.08%
1.00p
Coca Cola Hellenic Bottling Co American Depositary Shares (Each Representing One Ordinary Share)
$16.57
10:59 13/11/24
-4.82%
-$0.84
FTSE 250
20,359.21
17:14 13/11/24
n/a
n/a
FTSE 350
4,434.70
17:14 13/11/24
n/a
n/a
FTSE All-Share
4,392.88
16:44 13/11/24
n/a
n/a
Indeed, in the opinion of the broker bottlers's shares offered "low beta predictable cash-flows through volume growth in a low inflation world."
"Benign input costs and cost saving opportunities augment margin expansion," they said.
The broker upgraded shares of Coca Cola CCH from 'neutral' to 'overweight' and hiked their target price from 1,500p to 1,800p.
JP Morgan kept its recommendations on Britvic and AG Barr at 'underweight' and 'overweight', respectively, alongside target prices of 590p and 600p for each one.