UBS Maintains a 'Buy' on Coca-Cola Enterprises (CCE); Solid Execution Trumps Headwinds
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Price: $46.72 --0%
Rating Summary:
10 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 10 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Coca-Cola Enterprises (NYSE: CCE) price target raised from $30 to $32.
UBS analyst says, "CCE guided to 10% EPS growth, high-single digit revenue growth and mid-single digit operating income growth (all ex-FX). We are raising our 2012-13 EPS ests to $2.26 and $2.61, from $2.20 and $2.45 previously, to reflect: 1) 4.3% volume growth (accelerating in 2H, after 1H weakness due to the French soda tax), 2) -5%+ FX impact, 3) EBIT margins down -40bp (due to 4% y/y COGS inflation, vs. our 3.4% pricing ests), and 4) an additional $500m in share buybacks in 2012."
The UBS analyst said CCE still faces several headwinds in 2012, but suggests taking advantage of any share weakness as a buying opportunity, because the company is still firing on all cylinders.
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 $27.86 yesterday.
UBS analyst says, "CCE guided to 10% EPS growth, high-single digit revenue growth and mid-single digit operating income growth (all ex-FX). We are raising our 2012-13 EPS ests to $2.26 and $2.61, from $2.20 and $2.45 previously, to reflect: 1) 4.3% volume growth (accelerating in 2H, after 1H weakness due to the French soda tax), 2) -5%+ FX impact, 3) EBIT margins down -40bp (due to 4% y/y COGS inflation, vs. our 3.4% pricing ests), and 4) an additional $500m in share buybacks in 2012."
The UBS analyst said CCE still faces several headwinds in 2012, but suggests taking advantage of any share weakness as a buying opportunity, because the company is still firing on all cylinders.
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 $27.86 yesterday.
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