Goldman Sachs JB Were has cut its rating on the shares of Coca-Cola Amatil to 'marketperform' from 'outperform' following an investor briefing.

The broker said the Australian soft drinks group had adopted a cautious tone at its annual briefing this week. It also noted that CCA had increased the 2006 forecast for the cost of goods sold.

Goldma Sachs added that CCA was operating in Australian and New Zealand markets that were displaying softening consumer demand.