Coca-Cola Hellenic Bottling Company has had its share price target raised. CSFB has upped its target for the company to €26.50 from €22.50, citing expected growth from developing markets. The broker maintained an 'outperform' rating on CCHBC.

As well as increasing the target price, CSFB also raised its EPS forecast for this year to €1.30 from €1.27, based on the company management's raised guidance on volume growth. The broker also raised its estimate for 2005 EBIT growth to 12% from previous estimates of 11%.

CSFB added that it considers that a "key profit growth driver in the medium term will be CCHBC's push to grow consumption in the higher-margin impulse channel through increased cooler penetration in developing and emerging markets."