CCL - Deutsche Bank rates the stock as Hold
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The company will acquire Western Australian Craft beer brewer Feral Brewing. CC Amatil does not intend to change the way the business operates and Deutsche Bank observes there is little detail regarding the purchase.
However, the broker notes the craft beer segment is growing rapidly and Feral has a premium independent position which suggests it is better placed for continued growth than CC Amatil's Yenda brand.
Hold rating retained and target is $8.50.
Sector: Food, Beverage & Tobacco.
Target price is $8.50.Current Price is $7.92. Difference: $0.58 - (brackets indicate current price is over target). If CCL meets the Deutsche Bank target it will return approximately 7% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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