Coca-Cola Enterprises upgraded to Conviction Buy at Goldman

Coca-Cola Enterprises (CCE +2.3%) gets a lift from Goldman's Judy Hong who upgrades the shares to Conviction Buy from Neutral.

The risk/ reward looks good, Hong thinks, as the fundamentals are improving and the valuation — at 14x forward earnings — is very reasonable.

FY14 and FY15 EPS estimates raised to $2.91 (from $2.87) and $3.47 (from $3.46) respectively.

Price target hiked to $47 from $43.

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