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Investing.com - Deutsche Bank (ETR:DBKGn) raised its price target on Coca-Cola (NYSE:KO) Hellenic (LSE:CCH) (OTC:CCHGY) to GBP43.00 from GBP39.50 while maintaining a Buy rating.
The price target increase follows Coca-Cola Hellenic’s first-half results, which Deutsche Bank noted were broadly in-line with consensus expectations despite the stock falling 7% after the announcement.
Deutsche Bank updated its estimates to reflect the first-half performance and the company’s improved outlook for foreign exchange and finance charges, while keeping organic growth assumptions largely unchanged.
The firm’s earnings per share estimates for fiscal years 2025, 2026, and 2027 increased by 4.5%, 2.1%, and 2.2% respectively, with Deutsche Bank expecting consensus expectations to rise by similar amounts.
Coca-Cola Hellenic’s shares declined after its results as the increase to organic guidance for the full year did not imply underlying upgrades to consensus expectations, according to Deutsche Bank’s analysis.
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