UBS Raises Numbers on U.S. Beverage Stocks on FX (CCE) (KO) (PEP)
Tweet
Share
E-mailGet Alerts CCE Hot Sheet
Price: $46.72 --0%
Rating Summary:
11 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
11 Buy, 10 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Join SI Premium – FREE
UBS boosted estimates and price targets on U.S. Beverage companies due to recent USD FX volatility, which is down over 5% relative to a major basket of currencies over the past two month.
"The largest revisions to our 2013 estimates were driven primarily by exposure to the EUR/USD, which has rallied from $1.21 in mid July to $1.29 today," the firm said. "Given outsized revenue exposure to the EUR and GBP, CCE (+4.3% due to FX) is our largest revision, followed by TAP (+2.2%) with exposure to CAD, EUR and Central Europe. Other notable revisions include: KO (+1.8%), BFB (+1.0%) and PEP (+0.3%)."
For Coca-Cola Enterprises (NYSE: CCE) 2012-13e EPS goes to $2.26/2.65 from $2.20/2.52. The firm's price target goes to $34 from $32.
The firm also raised its price target on The Coca-Cola Company (NYSE: KO) to $39 from $38, Pepsico, Inc. (NYSE: PEP) to $71 from $70, Molson Coors Brewing Company (NYSE: TAP) to $46 from $45 and Brown-Forman Corporation (NYSE: BF-B) to $73 from $72.
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 $30.45 yesterday.
"The largest revisions to our 2013 estimates were driven primarily by exposure to the EUR/USD, which has rallied from $1.21 in mid July to $1.29 today," the firm said. "Given outsized revenue exposure to the EUR and GBP, CCE (+4.3% due to FX) is our largest revision, followed by TAP (+2.2%) with exposure to CAD, EUR and Central Europe. Other notable revisions include: KO (+1.8%), BFB (+1.0%) and PEP (+0.3%)."
For Coca-Cola Enterprises (NYSE: CCE) 2012-13e EPS goes to $2.26/2.65 from $2.20/2.52. The firm's price target goes to $34 from $32.
The firm also raised its price target on The Coca-Cola Company (NYSE: KO) to $39 from $38, Pepsico, Inc. (NYSE: PEP) to $71 from $70, Molson Coors Brewing Company (NYSE: TAP) to $46 from $45 and Brown-Forman Corporation (NYSE: BF-B) to $73 from $72.
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 $30.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Boston Scientific (BSX) PT Raised to $83 at Stifel
- Compass Minerals International (CMP) PT Lowered to $15 at Deutsche Bank
- Jefferies Downgrades LTIMindtree Ltd (LTIM:IN) to Underperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
