Goldman Maintains Neutral on Coca-Cola Enterprises (CCE)

Goldman Sachs maintained a Neutral rating on Coca-Cola Enterprises (NYSE: CCE) with a modified price target of $42.00 (from $43.00). Yesterday Coca-Cola Enterprises CEO said the company was see challenging conditions, including persistent underlying macroeconomic weakness, significant headwinds from poor weather, the prolonged impact of a sharp excise tax increase in France, and a dynamic competitive environment in Great Britain.

Commenting, analyst Judy E. Hong said, "While CCE believes its retailer focus is about back to levels it should be, demand may not be picking up quickly . . . We are forecasting flat volumes and -5% constant currency operating income in 2Q13 which compares to CCE's previous constant currency EBIT guidance of flat to down slightly. FX is a boost since we last updated, but we now see risk that CCE will have to trim its constant currency EPS guidance for 2013 (our estimate is 10% vs. CCE's guidance of 11-12%)."

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 $35.92 yesterday.

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