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Coca-Cola European Partners (CCE) Receives a Hold from Jefferies


In a report released today, Kevin Grundy from Jefferies maintained a Hold rating on Coca-Cola European Partners (NYSE: CCE), with a price target of $46. The company’s shares opened today at $42.75.

Grundy noted:

“CCE hosted the sell-side for an upbeat cocktail hour Tuesday (8/14) evening in NYC. While the co. is capably navigating the sugar tax regime in GB, headwinds in France and Spain continue to abate and we would expect results to improve in the back half of the year, with 3Q off to a strong start. EV/EBITDA, valuation screens as full compared to bottling peers at 9x. Maintain Hold.”

According to TipRanks.com, Grundy is a 4-star analyst with an average return of 6.7% and a 67.6% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as Edgewell Personal Care, Monster Beverage Corp, and Keurig Dr Pepper Inc.

Currently, the analyst consensus on Coca-Cola European Partners is a Moderate Sell with an average price target of $40.50.

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Based on Coca-Cola European Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $349 million. In comparison, last year the company had a net profit of $328 million.

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Coca-Cola European Partners Plc engages in the distribution and sale of ready-to-drink beverages. IT operates through the following brands: Coca-Cola, Diet Coke or Coca-Cola Light, Coke Zero, Coca-Cola Life, Fanta, and Sprite. It also offers energy drinks, waters, juices, sports drinks, and ready-to-drink teas.