Bank of America Securities analyst Bryan Spillane has reiterated their bullish stance on CCEP stock, giving a Buy rating on February 14.
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Bryan Spillane has given his Buy rating due to a combination of factors that highlight Coca-Cola Europacific Partners’ resilience and growth potential. Despite challenging conditions such as unfavorable weather in Europe and shifting consumer sentiment in Indonesia, the company exceeded its profit and free cash flow targets for the year. This demonstrates its ability to adapt and maintain stability, even in the face of industry headwinds, which has been a consistent trend since Damian Gammell’s tenure as CEO began in 2016.
Furthermore, Spillane’s confidence is bolstered by the company’s strategic plans for 2025, which align with the previous year’s financial targets. Management’s positive outlook, coupled with a significant share repurchase program and favorable market conditions, supports the expectation of continued growth. Additionally, the decision to raise the price objective to $92 is grounded in the visibility of sales growth drivers in Europe and expansion opportunities in the Pacific, which are expected to enhance profitability and justify the premium valuation.
According to TipRanks, Spillane is a 4-star analyst with an average return of 4.3% and a 55.10% success rate. Spillane covers the Consumer Defensive sector, focusing on stocks such as Procter & Gamble, Constellation Brands, and Molson Coors.
In another report released on February 14, Barclays also maintained a Buy rating on the stock with a $92.00 price target.