CCEP - Coca-Cola Europacific Partners is viewed cautiously at Morgan Stanley

Morgan Stanley started off coverage on Coca-Cola Europacific Partners PLC ( NASDAQ: CCEP ) with an Equalweight rating.

Analyst Eric Serotta and team view CCEP as one of the strongest operators in the Coke System, but are looking for a better entry point following the sharp share price rally as the warm winter reduced fears of a dire European energy/macro scenario.

"Although CCEP appears well-positioned to manage through the continued European cost-of-living crisis with low private label penetration in its core categories, a significantly improved portfolio in the at-home channel since Covid, and enhanced revenue growth management capabilities, CCEP's fundamentals are not immune from pressure on the European consumer and pushback from powerful retailers, and importantly the stock is not immune to a potential increase in European macro concerns among investors."

The firm assigned a price target of €53 to CCEP.

The Seeking Alpha Quant Rating on CCEP is at Hold with strong grades for profitability and momentum being offset by a low score for growth.

Dig into the Coca-Cola European Partners ( CCEP ) earnings call transcript.

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