Coca-Cola Hellenic Bottling Co. has seen its target price cut. Merrill Lynch has cut its target for shares in the Greek company to €23 from €24. The broker has maintained its 'buy' rating.

In a note today, Merrill Lynch said: "We have lowered our price objective to €23 per share (from €24 per share) after adjusting the target market relatives in our theoretical fair value calculation."