HSBC has raised its price target on four bottling groups.

Speaking today (14 May), the bank said that it has upped its coverage on Coca-Cola Enterprises, Coca-Cola Hellenic Bottling Company, Pepsi Bottling Group, and PepsiAmericas due to good Q1 figures.

The price target on CCE has been lifted from US$24 to $25, while CCHBC rose from $42 to $46, PBG was raised from $35 to $36 and PepsiAmericas shifted from $22 to $25.

HSBC has reiterated its 'overweight' rating on CCE, while holding 'neutral' ratings for CCHBC, PBG and PepsiAmericas.