Coca-Cola Europacific Partners (NASDAQ:CCEP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its CCEP price target from $115 to $120 and maintained an “overweight” rating, implying 7.57% upside from the prior close.
• Analyst opinions are mixed, but MarketBeat’s consensus rating is “Moderate Buy,” with an average price target of $107.67.
• CCEP reported third-quarter revenue above forecasts as volumes grew, while keeping full-year guidance unchanged; management also flagged cost pressures that could weigh on margins.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) had its price objective lifted by Wells Fargo & Company from $115.00 to $120.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 7.57% from the stock's previous close.

A number of other brokerages also recently weighed in on CCEP. ING Group downgraded shares of Coca-Cola Europacific Partners to a "hold" rating in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $114.00 price objective (up from $110.00) on shares of Coca-Cola Europacific Partners in a report on Wednesday, September 16th. Weiss Ratings raised shares of Coca-Cola Europacific Partners from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 15th. JPMorgan Chase & Co. initiated coverage on shares of Coca-Cola Europacific Partners in a research report on Friday, September 4th. They set an "underweight" rating and a $92.00 price objective for the company. Finally, UBS Group reiterated a "neutral" rating and issued a $107.00 target price (down from $109.00) on shares of Coca-Cola Europacific Partners in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Coca-Cola Europacific Partners presently has an average rating of "Moderate Buy" and a consensus target price of $107.67.

Coca-Cola Europacific Partners Trading Down 3.5%

Shares of Coca-Cola Europacific Partners stock opened at $111.56 on Wednesday. The company's fifty day simple moving average is $106.23 and its 200-day simple moving average is $100.86. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.68 and a current ratio of 0.89. Coca-Cola Europacific Partners has a 1 year low of $84.65 and a 1 year high of $116.01.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vise Technologies Inc. increased its holdings in Coca-Cola Europacific Partners by 3.2% during the 3rd quarter. Vise Technologies Inc. now owns 3,005 shares of the company's stock valued at $306,000 after purchasing an additional 94 shares in the last quarter. Parallel Advisors LLC boosted its stake in Coca-Cola Europacific Partners by 3.7% in the first quarter. Parallel Advisors LLC now owns 3,341 shares of the company's stock worth $303,000 after purchasing an additional 119 shares in the last quarter. Raiffeisen Bank International AG boosted its stake in Coca-Cola Europacific Partners by 4.0% in the second quarter. Raiffeisen Bank International AG now owns 4,806 shares of the company's stock worth $487,000 after purchasing an additional 187 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in Coca-Cola Europacific Partners by 0.7% in the third quarter. Legacy Wealth Asset Management LLC now owns 27,427 shares of the company's stock worth $2,790,000 after purchasing an additional 190 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Coca-Cola Europacific Partners by 5.6% during the second quarter. NewEdge Advisors LLC now owns 3,720 shares of the company's stock worth $372,000 after purchasing an additional 198 shares during the last quarter. 31.35% of the stock is owned by institutional investors.

Trending Headlines about Coca-Cola Europacific Partners

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Here are the key news stories impacting Coca-Cola Europacific Partners this week:

• Positive Sentiment: CCEP’s third-quarter revenue exceeded forecasts as volumes rose, with growth reported across key markets. The sales beat and volume gains are positive signs for demand. Coca-Cola Europacific Partners beats Q3 revenue forecasts, guidance unchanged
• Positive Sentiment: The company declared a dividend of €1.42 per share, payable December 3 to shareholders of record November 20. CCEP Reports Strong Third-Quarter Growth Across Key Markets
• Neutral Sentiment: CCEP kept its full-year outlook unchanged. This provides continuity after the quarterly results, but does not represent an upgrade to expectations. Coca-Cola Europacific Partners exceeds Q3 revenue expectations as volumes rise, maintains full-year guidance
• Negative Sentiment: Management flagged cost pressures. If they persist, they could weigh on margins, even though the company has maintained its full-year guidance. Bottler Coca-Cola Europacific Partners flags cost pressures, keeps outlook

Coca-Cola Europacific Partners Company Profile

Coca-Cola Europacific Partners plc NASDAQ: CCEP is a consumer beverage company and one of the world's largest Coca-Cola bottlers. The company manufactures, distributes and sells a broad portfolio of branded beverages, including Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Fanta, Sprite, Schweppes, Fuze Tea, Powerade, Monster Energy and Costa Coffee products, depending on the market.

CCEP serves customers across Europe and the Asia-Pacific region. Its territories include Great Britain, France, Germany, Spain, Portugal, Belgium, the Netherlands, Norway, Sweden and Iceland, as well as Australia, New Zealand, Indonesia, Papua New Guinea and several Pacific island markets.

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