CCL – Credit Suisse rates the stock as Outperform

By Broker News | More Articles by Broker News

Credit Suisse points out Coca-Cola Amatil’s cost reduction programs over 2019-22 should reduce the cost base by -$120m. The broker assesses these will be directed towards discretionary spending.  

The company is recovering in the on-the-go channel sales in places where covid-19 restrictions have been relaxed, observes the broker. 2022 group sales are expected to be just slightly less than in 2019.

Credit Suisse retains its Outperform rating with the target decreasing to $10.95 from $11.25.

Sector: Food, Beverage & Tobacco.

Target price is $10.95.Current Price is $9.08. Difference: $1.87 – (brackets indicate current price is over target). If CCL meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →