Barclays Analyst Raises Price Target for Coca Cola Europacific Partners by 12.1%

Barclays's Lauren Lieberman raised their price target on Coca Cola Europacific Partners (NASDAQ: CCEP) by 12.1% from $66 to $74 on January 16, 2024. The analyst maintained their Strong Buy rating on the stock. Lieberman's analysis focused on various sectors, including Consumer Goods (Beverages, Household & Personal Care), and highlighted the importance of companies with a "digestible valuation" and a clear path to growing volume before the Q4 reporting season.

In regards to the Food sector, Lieberman expressed interest in how reporters guide given volume recovery across the space "has largely lagged expectations." The analyst also noted that "monolithic, macro-driven moves in staples names are likely to be less of a driving force" due to interest rates being expected to be in a tighter and lower band compared to the past three months. Lieberman added that with the concern surrounding GLP-1s seeming to have retreated, there is potential in more "idiosyncratic names".

In addition to the rating change for CCEP, Lieberman made several adjustments to other names in their portfolio on January 16, 2024. The price target for Colgate Palmolive Co was raised by 9.3%, from $75 to $82, while maintaining a Hold rating. Coty Inc saw a price target increase of 18.2%, from $11 to $13, also with a Hold rating. Kimberly Clark Corp had a 4.1% increase in price target, from $123 to $128, with a Hold rating maintained. On the other hand, Mccormick & Co Inc saw a 4.1% decrease in price target, from $74 to $71, while holding onto a Hold rating. Molson Coors Beverage Co's price target was lowered by 1.5%, from $65 to $64, with a Hold rating maintained.

According to WallStreetZen, Lauren Lieberman is ranked in the top 25% of 4,453 Wall Street analysts, with an average return of 1.3% and a win rate of 45.4%. Specializing in the Basic Materials and Consumer Defensive sectors, among others, Lieberman's rating change on CCEP carries weight.

Coca-Cola Europacific Partners PLC, previously known as Coca-Cola European Partners plc, is a company that produces, distributes, and sells a range of non-alcoholic ready-to-drink beverages. Their products include various flavors, mixers, soft drinks, waters, energy drinks, and more under popular brands such as Coca-Cola, Fanta, Sprite, Monster Energy, and Costa Coffee. With a consumer base of approximately 600 million, the company has a significant presence in the market.

The consensus forecast among analysts is that CCEP's upcoming year will deliver earnings per share (EPS) of $3.9. This would indicate a 6.1% decrease on a year-over-year basis if the analysts' predictions prove accurate. CCEP's stock price has seen a 4.4% increase since its last quarterly report on June 30, 2023. Comparatively, the stock has risen by 17.8% year-over-year, although it has slightly trailed behind the overall performance of the S&P 500, which has experienced a 19.4% increase during the same period.

Want to get in touch? Email us at news@wallstreetzen.com.

WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.