Coca-Cola Enterprises downgraded to Buy from Conviction Buy at Goldman Goldman removed Coca-Cola Enterprises from the Conviction Buy List due to less upside to EPS estimates given FX and lower UK volumes. Shares remain Buy rated with a $50 price target, down from $52.
News For CCE From The Last 14 Days
Check below for free stories on CCE the last two weeks.
Coca-Cola Enterprises sees FY14 EPS growth approx. 10%, consensus $2.91 Sees FY14 net sales growth in the low single digit range, consensus $8.68B. Sees operating income growth in a mid-single-digit range. This guidance is comparable and currency-neutral. Based on recent rates, currency translation would benefit full-year 2014 earnings per diluted share by slightly more than 5 percent. The company continues to expect 2014 free cash flow of approximately $650 million. Capital expenditures are expected to be approximately $350 million. Weighted-average cost of debt is expected to be approximately 3 percent and the comparable effective tax rate for 2014 is expected to be in a range of 26 percent to 28 percent.