S&P Equity Research Reiterates 'Strong Buy' on Coca-Cola (KO)
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S&P Equity Research reiterates a 'Strong Buy' rating on Coca-Cola (NYSE: KO).
S&P analyst, E. Kwon, says, "Q1 operating EPS of $0.67 vs. $0.64, beats our estimate by $0.04 on sales growth at 21%, better than expected, driven by forex and a 5% rise in concentrate sales. We think results highlight broad diversity of KO operations, with solid international results offsetting flat US volumes. Sparkling volumes rose 3% and non-carbonated advanced 17%. Zero's volume in U.S. rose more than 40%, continuing to show momentum. Though favorable forex is likely to be reinvested, we raise our '08 estimate by $0.08 to $3.09 on slightly better volumes and price/mix. We keep our $72 target price."
The Coca-Cola Company is the manufacturer, distributor and marketer of nonalcoholic beverage concentrates and syrups in the world.[SM]
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