Coca-Cola HBC Share News (CCH)

(ShareCast News) - Analysts at Societe Generale have upgraded Coca-Cola HB to 'hold' from 'sell' after the beverage company posted strong first half results.In a note, analyst Andrew Holland said Societe Generale has a 1,460p 12-month price target on the stock.Margin growth was forecast by Societe Generale to move up by 30 basis points in 2016, up from analysts' previous forecast of a 20bp increase.Holland said long standing scepticism over the company saw Societe Generale discount Coca-Cola's price earnings by 10% amongst its rivals, but it now said a 0-5% premium was warranted.Analysts said the drinks business had improved volumes and modest margin improvement looked sustainable."CCH's business has struggled for longer than most beverage companies since the 2008 financial crisis, with top-line growth constrained by affordability and the health lobby, and the margin hit by a preference for grocery purchases over immediate consumption."Holland noted weak Russian demand and weakness in the rouble would be major constraints on growth.