Coca-Cola Enterprises’ Target, Estimates Boosted at UBS (CCE)

By Dividend.com,  September 09, 2010, 09:00:49 AM EDT

Beverage bottler Coca-Cola Enterprises Inc. ( CCE ) on Thursday saw its price target and earnings estimates raised by analysts at UBS.

The firm said it now expects CCE shares to reach $34, which represents a potential upside of 15% from the stock's Wednesday close price of $29.69. UBS also boosted its earnings estimates for the company in order to match CCE's newly-raised guidance, while maintaining its "Buy" rating.

Coca-Cola Enterprises shares were mostly flat in premarket trading Thursday.

The Bottom Line
Shares of CCE have a 1.21% dividend yield, based on last night's closing stock price of $29.69. The stock has technical support in the $26 price area. If the shares can firm up, we see overhead resistance around the $31-$33 price levels. We would remain on the sidelines for now.

Coca-Cola Enterprises Inc. ( CCE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CCE



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