UPDATE: Deutsche Bank Reiterates on Coca-Cola Enterprises on Attempts to Enhance Returns
In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Coca-Cola Enterprises (NYSE: CCE), and raised the price target from $45.00 to $47.00.
In the report, Deutsche Bank noted, “Maintaining shareholder friendly stance. Category growth in core markets has bottomed and is modestly recovering, and market shares are in good shape, although growth remains tepid and competition intense. Within this context and noting largely fair valuation, company is using its balance sheet and cash generation to enhance returns in a low rate environment to support double-digit EPS growth which should keep investors interested as it seeks out acquisitions to expand its territories and portfolio. Maintain Buy, raising target to $47 (from $45).”
Coca-Cola Enterprises closed on Thursday at $42.39.
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