BUZZ-Coca-Cola HBC: 'sweet spot of growth and M&A optionality'

** Jefferies raises Coca-Cola HBC to "buy" on accelerating growth and acquisition opportunities

** The broker's 5-star rated analyst Edward Mundy expects positive reporting in H1 boosted by favourable weather in Europe and the World Cup among others

** Mundy also sees "the business attractively positioned to take advantage of acquisition opportunities, including transformational deals in Africa"

** Mundy says that a deal could push the shares closer to 3,200p; for now Jefferies ups PT by over 12 pct to 3,000p

** The broker's upside scenario of 3,200p assumes that CCH acquires a 54.5 pct stake in Coca-Cola Beverages Africa (CCBA)

** Jefferies also points to CCH as a UK-listed co with no GBP earnings, what makes it well-placed for further potential Brexit-related GBP weakness

** The stock is +11 pct YTD