Wells Fargo analyst Bonnie Herzog upgraded Coca-Cola European Partners to Outperform from Market Perform and raised her price target for the shares to $50 from $40. The analyst found the company's capital markets day in Germany this week "upbeat." Coca-Cola European Partners has multiple initiatives to drive accelerating top and bottom line growth, making its fiscal 2018 not only achievable, but possibly conservative, Herzog tells investors in a research note. Further, the analyst believes the company's stronger free cash flow and financial flexibility will drive greater shareholder returns. She finds the stock's valuation attractive at current share levels.