Analyst Andrea Pistacchi of Bank of America Securities maintained a Buy rating on Coca-Cola Europacific Partners, with a price target of $111.00.
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Andrea Pistacchi has given his Buy rating due to a combination of factors, including Coca-Cola Europacific Partners’ solid financial performance in the first half of the year. The company’s EBIT and EPS were broadly in line with expectations, despite a slight shortfall in volume growth. This indicates a strong operational performance, as evidenced by a 6.4% increase in FX-neutral EBIT, which reflects the company’s ability to manage costs effectively.
Despite a downward revision in sales guidance for the full year, Pistacchi remains optimistic about the company’s prospects. He believes that the market’s reaction to the results has been overly negative, considering CCEP’s position as a leading player in the staples sector. The company’s valuation, trading at approximately 19.5 times the 12-month forward price-to-earnings ratio, suggests it remains an attractive investment opportunity. Overall, Pistacchi’s Buy rating reflects confidence in CCEP’s long-term growth potential and its ability to deliver value to shareholders.