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Prices & Quotes - UK Markets - Coca-Cola HBC AG (CDI) (CCH)

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Share Price:
Up 2,300.00p
Change Today:
11.00p
Market Cap:
8,377m
Sector:
Beverages

Coca-Cola HBC share price reaction 'overdone', says Deutsche Bank

By Iain Gilbert

Date: Tuesday 21 May 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Deutsche Bank believe that Monday's drop in bottling company Coca-Cola HBC's shares in reaction to the news that The Coca-Cola Company would keep its majority stake in Coca-Cola Beverages Africa "for the foreseeable future" was overdone.
The Coca-Cola company revealed on Monday that, having had discussions with several potential partners for CCBA, it intends to retain its majority stake in the bottler for the foreseeable future.

The German broker reckons the share price reaction to the news, with CCH ending the day as the biggest faller on the FTSE 250 on Monday, was overdone.

Deutsche believes that given the attractions of the standalone investment case, and the fact that a CCBA deal "seemed unlikely" on a six-to-twelve month view anyway and that it also didn't rule out The Coca-Cola Company refranchising CCBA at some point in the future, the shares overreacted on the news.

"We believe the shares have overreacted on the news, with possibly some short term 'event-money' coming out of the stock, and we would take this as a buying opportunity," said Deutsche.

Deutsche stood by its 'buy' rating and 3,200p target price for CCH.

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CCH Market Data

Currency UK Pounds
Price 2,300.00p
Change Today 11.00p
52 Week High 2,883.00p
52 Week Low 1,494.00p
Volume 534,532
Shares Issued 364.23m
Market Cap 8,377m

Performance Indicators

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What The Brokers Say

Strong Buy 14
Buy 0
Neutral 4
Sell 0
Strong Sell 0
Total 18
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CCH Dividends

  Latest Previous
  Final Final
Ex-Div 02-Jul-20 04-Jul-19
Paid 28-Jul-20 30-Jul-19
Amount 62.00¢ 57.00¢

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 240,833 @ 2,300.00p
16:29 86 @ 2,294.00p
16:29 111 @ 2,294.00p
16:29 328 @ 2,294.00p
16:29 3 @ 2,294.00p

CCH Key Personnel