logo-loader

Fevertree Drinks upgraded again after 'outstanding' update

Published: 13:00 26 Jan 2017 GMT

picture of Fevertree drinks
20% sales growth at least this year suggests Berenberg

Fevertree Drinks PLC (LON:FEVR) has received a fifth upgrade in little over a year from German broker Berenberg, which sees little end in sight to the mixer drinks group’s ‘outstanding’ progress.

All of Fevertree’s overseas regions beat Bereneberg’s expectations, with the US achieving 55% growth, Europe 39% and the Rest of the World 88%.

“Following the company’s end-of-year trading update, our EPS estimates increase by 13%/11%/11% for 2016/17/18E respectively.

"Looking to this year, we forecast 20% sales growth, which our analysis suggests is almost entirely driven by the lapping effect of distribution gains made during 2016.

"Therefore, if Fevertree can generate strong rate of sale growth or add more distribution points, this could lead to upgrades."

Buy with a 1,325p target is Berenberg’s view.

Chesnara reports strong 2023 results with improved cash generation and...

Chesnara PLC (LSE:CSN) chief executive Steve Murray discusses the company's full-year results for 2023 with Proactive's Stephen Gunnion, describing them as strong and particularly highlighting £53 million in commercial cash generation and a dividend coverage of around 150%. The company has...

34 minutes ago