On Tuesday, Coca-Cola European Partners (NASDAQ:CCEP) stock received a reiterated Buy rating from Argus, with a steady price target of $85.00. The firm identified the recent underperformance of CCEP's shares compared to the EFA index as a potential buying opportunity. Over the past quarter, CCEP shares have seen a 4% increase, which is modest relative to the 6% gain experienced by the EFA index.
Coca-Cola (NYSE:KO) European Partners recently disclosed its first-quarter revenue for 2024, which showed a reported increase of 8% to 4.5 billion euros. When adjusted for currency fluctuations, the revenue growth stands at 5%. The $85 price target set by Argus suggests a valuation at 19 times the firm's estimated earnings per share (EPS) for the year 2025.
The firm's assessment points to growth through acquisition as a key strategy that supports earnings for Coca-Cola European Partners. This approach is anticipated to contribute positively to the company's financial performance in the coming periods.
Investors may find the current position of CCEP's shares, as noted by Argus, to be of interest, especially considering the company's recent financial results and strategic moves aimed at fostering growth. The Argus price target reflects an expectation of continued strength in the company's earnings trajectory heading into 2025.
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