Wells Fargo analyst Chris Carey initiated coverage of Coca-Cola Europacific with an Overweight rating and $110 price target. The company's pricing power "is real" and the cost inflation it faces "can be covered," the analyst tells investors in a research note. Wells sees "relative value" at current share levels, saying Coca-Cola Europacific can compound earnings growth at high-single-digit or potentially double-digits over time.
