Credit Suisse Starts Coca-Cola European Partners Plc (CCE) at Neutral
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Credit Suisse initiates coverage on Coca-Cola European Partners Plc (NYSE: CCE) with a Neutral rating.
Analyst Sanjeet Aujla commented, "Our FY16-18E EPS estimates are 3-4% below consensus, driven by a weaker topline outlook due to soft category growth, potential macro-risk (UK) and regulatory pressures. Synergies give some degree of earnings visibility; however, we don't expect upside to targets, and balance sheet activity is unlikely until FY18. We prefer Coca-Cola HBC.
Shares of European Partners Plc closed at $39.65 yesterday.
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