Coca-Cola Europacific Partners price target raised to $92 from $88 at BofA

BofA analyst Bryan Spillane raised the firm’s price target on Coca-Cola Europacific Partners (CCEP) to $92 from $88 and keeps a Buy rating on the shares following the 2024 results. Despite “unforeseen challenges” from unfavorable weather in Europe and sentiment in Indonesia, the company over-delivered its profit and free cash flow goals with only having shaved 50 basis points from comparable revenues along the way, the analyst tells investors in a research note. The firm says that with the stock on a path to being added to the FTSE index in London later this year, it expects appreciation for Coca-Cola Europacific’s track record of consistency.