Credit Suisse Starts Coca-Cola (KO) at Neutral
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Credit Suisse initiates coverage on Coca-Cola (NYSE: KO) with a Neutral rating and a price target of $44.00.
Analyst Laurent Grandet commented, "We are initiating coverage of The Coca-Cola Company with a Neutral rating and $44 target price. We think the shares will remain range-bound over the coming 12 months as the company implements the organizational and operational changes it is currently undertaking. Coke is one of the top three most valuable brands in the world and one of the best operators out there. Our estimates are generally in-line with the consensus for FY16/17, but we think earnings over the coming year or two will be bumpy owing to the timing of refranchising."
Shares of Coca-Cola closed at $42.36 yesterday.
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