UPDATE: J.P. Morgan Raises PT on Coca-Cola Enterprises to $30 (CCE)

J.P. Morgan is out with its report today on Coca-Cola Enterprises

, raising its PT from $28 to $30. In a note to clients, J.P. Morgan writes, "We rate CCE Neutral. The stock is trading at 13x our 2011 EPS estimate. While other European bottlers are trading at slightly higher multiples in their local exchanges, they have less fx risk. Our price target for December 2011 goes from $28 to $30. This implies 12.5x our 2012 EPS estimate which is similar to the current multiple and historical trends." Shares of CCE closed Friday at 28.41, down 0.14% from Thursday's close.