Coca-Cola Europacific price target raised to $90 from $78 at Deutsche Bank

Deutsche Bank analyst Mitch Collett raised the firm’s price target on Coca-Cola Europacific Partners to $90 from $78 and keeps a Buy rating on the shares. The firm does not expect U.S. spirits to return to the 4%-6% growth rate achieved in 2000 through 2019 and sees 2%-4% as a more likely outcome. To some extent this has begun to be reflected in spirits multiples, however Deutsche retains a preference for beer and soft drinks, the analyst tells investors in a research note.