Broker snap: Citi sees Britvic still fizzing

8th Dec 2009 12:12

Britvic's strong earnings guidance as it delivered full year results recently have prompted the broker Citigroup to raise its target price on the drinks firm to 445p from 400p.Citi noted that Britvic, which sells Robinsons fruit juice and has the license for Pepsi in the UK, is upbeat than previously on the prospects for its fizzy drinks operations. At 11.4 times 2010 projected earnings, it thinks Britvic's shares are attractively priced and notes that the company offers a sector-leading dividend yield of 4.5%.Citi has a 'buy' rating on Britvic.