LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg reiterated their 'buy' recommendation and 145p target price for shares of gold miner Centamin following an exploration roundtable with company management the day before.
Their main conclusion was that management had been putting geology first over the past two years in a systematic manner to better understand the ore bodies and regional picture in Egypt and Ivory Coast.

Centamin's approach to exploration was also described as "disciplined".

"[...] This, we think, will pay dividends in the form of on-mine and near-mine exploration, reserve replacement and the ability to supplement ore feed to the mill with higher-grade material from satellite deposits," they said.

They also believed that it would offer longer-dated upside potential in Egypt and Ivory Coast.

"While we make no adjustments to our model following this update, it provides us with comfort that management is working systematically on mine and further afield to create the best value for shareholders through the drillbit."

Elsewhere, Jefferies upped its price target on shares of Coca-Cola Hellenic after the company's first-quarter results, which it said were better than expected.

The price target was lifted to 3,000p from 2,800p and the rating kept at 'buy'.

"We see the business better able to navigate a more challenging environment versus history given investments made over the past years around commercial capabilities and the portfolio," the bank said.

"Whilst we are mindful of tough weather comps and geopolitical uncertainty, we see a favourable setup for F23 and increase our organic EBIT to 2.9%."

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