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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

Morgan Stanley says CCH and Britivic shares not reflecting pace of recovery

By Alexander Bueso

Date: Tuesday 22 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Morgan Stanley expressed a preference for soft drinks within the wider Beverages universe, reiterating their 'overweight' stance for the likes of CCH and Britvic.
To back up their case for their former, they pointed to the latest mobility data from Google, judging that it pointed to a faster recovery in the backhalf of 2020 than for peers.

There were also long-term "structural growth opportunities" to be grasped in the case of CCH.

Over the short-term, improved product mix and the "partial retention" of €100m of costs savings should offset the drag from taxes on sugar and plastics, boosting earnings before interest and tax, they said.

And while valuations for both firms "were not reflecting a pace of recovery that should be at least as good (if not better)vs alcoholic bevs", at just 14 times its estimated earnings for 2021, Britvic's stock was the "cheapest".

"We see no good reason for this," Pinar Ergun and Yubo Mao said in a research note sent to clients.

They estimated that the sub-sector was set to see 2021 earnings per share recover to over 95% of their level in 2019 and a compound annual rate of growth in earnings per share of 7-12% from 2021-25, with premiumisation driving a structural re-rating longer-term.

In the same note, they also reiterated their 'equal-weight' recommendation for Fever-Tree, forecasting a AGR in average sales of 12% from 2021-25.

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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