Coca-Cola Enterprises (CCE) Numbers Bumped at Jefferies Post Q1; Remains on Sidelines

Jefferies analyst Kevin Grundy bumped estimates and his price target on Coca-Cola Enterprises (NYSE: CCE) to $45.00 (from $42.00) following mixed Q1 results but maintained a Hold rating.

Grundy commented, "We maintain our Hold rating on CCE following a mixed 1Q and reaffirmed FY15 underlying guidance. While the stock is likely to continue to find support given expectations of consolidation in KO's Euro. bottling system, fundamentals remain constrained and CCE's 5.4% unlevered FCF yield is in line with the group, keeping us on the sidelines for now. Raising FY15-17 EPS est. on FX since our last model update, PT to $45."

For an analyst ratings summary and ratings history on Coca-Cola Enterprises click here. For more ratings news on Coca-Cola Enterprises click here.

Shares of Coca-Cola Enterprises closed at $44.41 yesterday.

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