Goldman Sachs Adds Coca-Cola (KO) to Conviction Buy List

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Goldman Sachs added Coca-Cola (NYSE: KO) to Conviction Buy with a price target of $77, suggesting 15% upside.

The firm said Coke is the ideal stock to own in a slower-growth macro environment. They cited: (1) a highly visible, 10% EPS growth outlook; (2) market share momentum in global beverages; and (3) an undemanding valuation (16X NTM P/E), below the historical average (17-18X).

For more ratings news on Coca-Cola click here and for the rating history of Coca-Cola click here.

Shares of Coca-Cola closed at $66.77 yesterday, with a 52 week range of $54.92-$69.80.

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