UPDATE: Stifel Nicolaus Raises PT to $40 on Coca-Cola Enterprises on FX Benefit

Stifel Nicolaus reiterated Coca-Cola Enterprises CCE with a Buy and raised the price target from $36.00 to $40.00. Stifel Nicolaus commented, "[W]e lift 2013E EPS to $2.55 (was $2.48, consensus $2.51) and 2014E EPS to $2.91 (was $2.87, consensus $2.84), reflecting more of an FX benefit, assuming current exchange rates. … With the shares at 14.1x 2013E EPS and positive revision risk, assuming constant FX, we lift our target to $40 per share, or 13.7x 2014E EPS of $2.91. We reiterate our Buy because we expect underlying volumes to improve." Coca-Cola Enterprises closed at $34.92 on Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsStifel Nicolaus
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!