Coca-Cola Europacific Partners (NYSE:CCEP) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Wednesday, The Fly reports. The brokerage currently has a $70.00 price target on the stock, up from their previous price target of $49.00. JPMorgan Chase & Co.’s price target would indicate a potential upside of 15.40% from the company’s current price. The analysts noted that the move was a valuation call.
Other analysts have also issued reports about the company. BNP Paribas began coverage on Coca-Cola Europacific Partners in a research note on Wednesday, May 5th. They set a “neutral” rating and a $58.00 price target on the stock. Barclays lifted their price target on Coca-Cola Europacific Partners from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Tuesday, May 18th. Argus raised Coca-Cola Europacific Partners from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, May 27th. The Goldman Sachs Group began coverage on Coca-Cola Europacific Partners in a research note on Wednesday, May 12th. They set a “neutral” rating on the stock. Finally, Zacks Investment Research raised Coca-Cola Europacific Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. Coca-Cola Europacific Partners presently has a consensus rating of “Hold” and a consensus target price of $62.04.
NYSE:CCEP opened at $60.66 on Wednesday. The company has a 50-day simple moving average of $55.96. Coca-Cola Europacific Partners has a twelve month low of $34.02 and a twelve month high of $61.95. The firm has a market capitalization of $29.38 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 1.05 and a beta of 0.82. The company has a quick ratio of 0.82, a current ratio of 0.98 and a debt-to-equity ratio of 1.06.
Hedge funds have recently modified their holdings of the business. SOA Wealth Advisors LLC. bought a new stake in Coca-Cola Europacific Partners in the fourth quarter worth approximately $26,000. Regent Peak Wealth Advisors LLC bought a new stake in Coca-Cola Europacific Partners in the fourth quarter worth approximately $31,000. Capital Asset Advisory Services LLC bought a new stake in Coca-Cola Europacific Partners in the fourth quarter worth approximately $34,000. FORA Capital LLC bought a new stake in shares of Coca-Cola Europacific Partners during the first quarter valued at approximately $39,000. Finally, Montag A & Associates Inc. bought a new stake in shares of Coca-Cola Europacific Partners during the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 26.39% of the company’s stock.
Coca-Cola Europacific Partners Company Profile
Coca-Cola Europacific Partners PLC, together with its subsidiaries, produces, distributes, and sells a range of non-alcoholic ready to drink beverages. The company offers flavours, mixers, and energy drinks; soft drinks, waters, flavored water, and isotonic drinks; and ready-to-drink tea and coffee, juices, and other drinks.
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