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CCEP · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Coca-Cola Europacific Partners plc Ordinary Shares (CCEP) stock moving?
CCEP closed at $117.55 on Nov 10, about 6% above its Oct 23 low of $110.84 and near the Nov 5 high of $119.09. Q3 2026 revenue rose 6.5% to €5.764 billion and year-to-date revenue rose 5.1% to €16.488 billion. Management reaffirmed FY2026 sales growth guidance of 3% to 4%, and the full-year dividend is €2.24 per share, including a €1.42 interim. Analysts raised targets after the results: Barclays to $124 (Overweight), Wells Fargo and Evercore ISI to $120 (Overweight and Outperform), and UBS to $115 (Neutral). Three of the four targets sit above the current price. The buyback under the €1 billion programme is ongoing, with 200,000 shares bought in early November. Against this, guidance implies only modest 3% to 4% growth, the stock already trades close to the Neutral-rated UBS target, and daily volume has fallen from 2.61 million on Nov 5 to about 0.98 million on Nov 10. The board appointment and Frigoglass agreement are minor for valuation. The data provided contain no margin or earnings figures, which limits the assessment.
News behind the analysis
- Coca-Cola Europacific Partners Reports Q3 2026 Financial ResultsQ3 2026 revenue rose 6.5% year over year to €5.764 billion, and full-year 2026 guidance was reaffirmed.
- Coca-Cola Europacific Affirms FY2026 Sales Growth Guidance of 3% to 4% YoYThe company kept its 2026 sales growth guidance at 3% to 4%, with year-to-date revenue of €16.488 billion up 5.1%.
- Barclays Maintains Overweight on Coca-Cola Europacific, Raises Price Target to $124Barclays kept its Overweight rating and raised its price target to $124 from $112.
- Wells Fargo Maintains Overweight on Coca-Cola Europacific, Raises Price Target to $120Wells Fargo kept its Overweight rating and raised its price target to $120.
- Evercore ISI Group Maintains Outperform on Coca-Cola Europacific, Raises Price Target to $120Evercore ISI kept its Outperform rating and raised its price target to $120.
- UBS Maintains Neutral on Coca-Cola Europacific, Raises Price Target to $115UBS kept its Neutral rating and raised its price target to $115 from $107.
- Coca-Cola Europacific Partners Announces Share Buyback TransactionsThe company bought 150,000 shares on US venues and 50,000 on London venues from Nov 2 to Nov 6, under a programme of up to €1 billion.
- Coca-Cola Europacific Partners Appoints Sean Summers as Independent Non-executive DirectorSean Summers, currently Executive Vice President at Mercado Libre, joins the board as an independent non-executive director from Dec 1, 2026.
- Coca-Cola Europacific Partners Enters Technical Services Agreement with FrigoglassFrigoglass will provide technical services, including supply chain solutions and equipment lifecycle management, starting in 2027.
About Coca-Cola Europacific Partners plc Ordinary Shares
Coca-Cola Europacific Partners is the world's largest Coca-Cola bottler by revenue. It makes, distributes and sells Coca-Cola drinks across Western Europe, Australia, New Zealand, Indonesia and the Philippines. It is based in Uxbridge, UK, and was formed in 2016 by merging several Coca-Cola bottlers.
How it makes money
The company buys drink concentrate from The Coca-Cola Company, then bottles and sells finished drinks to supermarkets, convenience stores, restaurants and other venues. Its brands include Coca-Cola and Coke Zero Sugar, plus energy drinks like Monster and various sports drinks and waters. Revenue was about €21 billion in 2025. Europe brings in roughly three-quarters of sales. The rest comes from Australia, the Pacific and Southeast Asia, a segment the company calls APS. It also returns cash to shareholders through dividends and share buybacks, including a buyback of about €1 billion in 2026.
What usually moves CCEP
- Number of cases sold and pricing per case
- Growth of Coke Zero Sugar and energy drinks
- Costs of ingredients, packaging and energy
- Euro, pound and Australian dollar exchange rates
- Consumer spending and sugar or packaging rules