UK: Coca-Cola Enterprises, PepsiAmericas upgraded
Two cola bottlers have had their coverage raised.
HSBC Securities said yesterday (15 June) that it has reviewed its position on Coca-Cola Enterprises and PepsiAmericas.
The Coke bottler has seen its recommendation upped to 'overweight' from 'neutral'. HSBC noted that the company is looking to achieve more balanced revenue growth, stabilise its European operations and implement cost control initiative.
PepsiAmericas, meanwhile, has been shifted to 'neutral' from 'underweight', with HSBC saying that it believes there is limited downside from current levels.
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