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Coca Cola Hellenic Stays a Buy
Coca-Cola Hellenic Bottling Company (CCH - Analyst Report) enjoys an attractive geographic mix with 66% of revenues being derived from developing or emerging markets. In addition, the company's product mix is less dependent on CSDs (carbonated soft drinks) than other bottlers.
Since the company conducts business and reports financial results in Euros, much of the stock's performance is inversely correlated with US dollar's exchange rate with the Euro. However, as management has a sound business strategy and proven execution skills, the recent earnings weakness is providing a valuation-based buying opportunity.
Therefore, the stock is rated a Buy. Our target price of $25.25 is based on a 14 P/E on trailing 12-month earnings.
Read the full analyst report on CCH
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| Market Summary | Feb 09, 2010 21:25 pm ET |
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