Wednesday, September 14, 2011 6:57:26 AM
LOS ANGELES -- Shares of Coca-Cola Enterprises Inc. rose Tuesday after a UBS analyst upgraded the stock to a "Buy," saying the world's third-largest Coca-Cola bottler should be able to outperform this year.
THE SPARK: UBS ( UBS - news - people ) analyst Kaumil Gajrawala said in a client note Tuesday that Coca-Cola ( KO - news - people )'s shares have lagged those of comparable companies over the past three months, even though the company continues to post strong results. That makes the stock a compelling opportunity for investors Gajrawala said.
THE BACKGROUND: Atlanta-based Coca-Cola Enterprises ( CCE - news - people ) operates in parts of Europe including Belgium, the U.K., France and the Netherlands. It is three-quarters of the way through a $1 billion share repurchase program expected to be completed by the end of this year.
Several factors have weighed on the company, including consumers' health concerns about soft drinks, instability in European markets and a proposed soda tax in France.
Gajrawala argues none of those factors should have much of an impact on Coca-Cola's sales, however.
Real-Time Quotes
09/13/2011 4:00PM ET
CCE$26.463.68%UBS$12.454.45%KO$69.10-0.40%Get Quote
BATS Real-Time Market Data by XigniteThe analyst says consumer health concerns haven't weighed too heavily on the company thus far, and notes that the company's operations have held up to the unrest over economic turmoil in Europe.
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