Bryan Spillane, an analyst from Bank of America Securities, maintained the Buy rating on Coca-Cola Europacific Partners (CCEP – Research Report). The associated price target was raised to $96.00.
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Bryan Spillane has given his Buy rating due to a combination of factors that highlight Coca-Cola Europacific Partners’ strong growth potential and strategic initiatives. The company hosted a Capital Markets Day in Manila, where it emphasized its commitment to achieving sustainable revenue and EBIT growth, supported by a robust free cash flow. The growth strategy is underpinned by opportunities in Europe, including innovations in product flavors and packaging, as well as market share expansion in zero-sugar and sports categories.
Furthermore, the company is poised to capitalize on high growth prospects in Southeast Asia, particularly in the Philippines and Indonesia. In the Philippines, CCEP’s strong market presence and demographic advantages are expected to drive further market share gains and margin expansion. Although Indonesia has faced challenges, the long-term potential remains promising, with management focusing on localized strategies and new product launches to enhance affordability and market penetration. These strategic initiatives, combined with potential share buybacks due to strong cash generation, reinforce the Buy rating.
In another report released on May 5, Argus Research also maintained a Buy rating on the stock with a $102.00 price target.