Berenberg Raises Target Price for Coca-Cola HBC Amid Acquisition Plans

Coca-Cola HBC has seen its target price raised by analysts at Berenberg, who now predict it will reach £5,483 per share. This is up from a previous forecast of £5,453.

The German bank believes the company's acquisition of Coca-Cola Beverages Africa will give it access to a large and fast-growing consumer base in key markets.

Berenberg notes that the deal will provide CCH with significant demographic and market growth opportunities. The bottler's core markets are expected to grow at twice the pace of its existing footprint, driven by urbanization and rising carbonated soft drink penetration.