Coca-Cola HBC (LON:CCH) faced a revision in its price target, as equities research analysts at Deutsche Bank Aktiengesellschaft reduced their forecast from GBX 4,485 to GBX 4,470 in a report released on November 21, 2023. Despite this adjustment, the brokerage maintains a “buy” rating on the stock, indicating a positive outlook for investors. The new price target suggests a potential upside of 17.63% from the stock’s current trading price.
Several other analysts have also weighed in on Coca-Cola HBC’s prospects. On November 6, JPMorgan Chase & Co. reiterated an “overweight” rating for the shares. Earlier, on August 7, Jefferies Financial Group reaffirmed a “buy” rating, setting a target price of GBX 4,400. Meanwhile, on August 6, Berenberg Bank also maintained a “buy” rating, with a target price of GBX 4,068. Currently, four research analysts have assigned a “buy” rating to the stock, and it holds a consensus price target of GBX 4,147, according to data from MarketBeat.com.
In trading news, the stock of Coca-Cola HBC saw a slight increase of 0.4% recently. Insider trading activity has been notable as well. On November 21, Zoran Bogdanovic, an insider, sold 15,000 shares at an average price of GBX 3,616, totaling approximately £542,400. Conversely, another insider, Pantelis Lekkas, purchased 10,000 shares on October 22 at an average cost of GBX 3,450 per share, amounting to £345,000. Within the last 90 days, insiders have acquired a total of 10,457 shares valued at about £36,142,383. Currently, company insiders hold 99.20% of the stock.
Coca-Cola HBC operates as a strategic bottling partner for The Coca-Cola Company and is focused on growth in the consumer packaged goods sector. The company aims to create value for stakeholders while supporting socio-economic development in the regions it serves. With a vision to become the leading 24/7 beverage partner, Coca-Cola HBC provides a diverse range of drinks to cater to the needs of approximately 750 million consumers across 29 countries.
Investors interested in Coca-Cola HBC can expect to receive regular updates and analysis of the stock’s performance. This includes insights from various market analysts and industry experts, which are essential for making informed investment decisions.
