Shore Capital expects Coca-Cola Hellenic to post strong volume growth but be hit by foreign exchange headwinds in its first-half results, due out next week. The broker kept its “sell” rating and 1,306p target price, but said a tough environment in some of its markets could result in further downgrade potential.
Thomas Cook Group
Jefferies said the impact from Tunisia and Greece, revealed in Thomas Cook’s trading update last week, was higher than it had provided for, as was the forex headwind. As a result, it cut its full-year earnings forecasts by a further six per cent. The broker retained its “buy” rating, but reduced its price target to 145p from 165p.