Coca-Cola (NYSE:KO) Acquisition of CCE NA Not Accretive Till 2012

The acquisition of CCE NA by Coca-Cola (NYSE:KO) won't be accretive until 2012, says UBS, saying it would have been in 2011 except of the pressures from commodities.

UBS says, "Following our most recent Coke-Tracker work (where we leverage our global analysts for local datapoints on KO’s quarter), we are reiterating our rating and raising our PT. We expect the CCE NA acquisition to have little impact on EPS before becoming accretive in ‘12. Our ‘11 EPS remains at $3.83. We note that if not for commodity pressures, the deal would have been accretive in ‘11."

UBS maintains a "Buy" rating on Coca-Cola, which was trading at $63.27, up $0.23, or 0.36 percent, as of 2:07 PM EST. UBS boosted their price target on Coca-Cola from $69 to $75.