Jefferies Sticks to Their Hold Rating for Coca-Cola Enterprises

By Ryan Adsit

In a report issued on September 12, Kevin Grundy from Jefferies reiterated a Hold rating on Coca-Cola Enterprises (NYSE: CCE), with a price target of $45. The company’s shares opened today at $41.36.

According to TipRanks.com, Grundy is a 5-star analyst with an average return of 8.7% and a 68.7% success rate. Grundy covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Anheuser-Busch Inbev Sa, and Energizer Holdings Inc.

Coca-Cola Enterprises has an analyst consensus of Moderate Buy, with a price target consensus of $46.

Based on Coca-Cola Enterprises’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.36 billion and quarterly net profit of $328 million. In comparison, last year the company earned revenue of $2.45 billion and had a net profit of $171 million.

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Coca-Cola European Partners Plc is a consumer packaged goods company. It produces, distributes and markets nonalcoholic ready-to-drink beverages. The company serves across Western Europe, including Andorra, Belgium, France, Germany, Great Britain, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain and Sweden.