interesting article, page-5

Coca Cola Amatil is underperforming for good reasons, and it may take some time for it to escape these headwinds.
It will probably be a bargain, but not until some time in the future.

Coca Cola Amatil is not necessarily a bargain at the moment as it hasn't dropped by a decent amount since from its downgrades and has a very toppy p/e ratio. It would be better value around $11.00+.

The ongoing price wars particularly with rival Schweppes and the major supermarkets don't seem to have gone away and therefore don't set CCL up for a short-term share price recovery. Their next quarterly update may simply reinforce the fact that their competitors are knocking their earnings around still.