UPDATE: Barclays Starts Coca Cola Femsa (KOF) at Equalweight; Core Holding at a High Price

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(Updated - July 12, 2012 3:03 PM EDT)

Barclays initiates coverage on Coca Cola Femsa (NYSE: KOF) with a Equalweight. PT $137.00.

Analyst, Gabriel Vaz de Lima, said, "Although we see KOF as a core holding in the Consumer sector for long-term investors, the stock is trading at 20.8x P/E 2013E, which we believe already incorporates a high growth outlook, supported by synergies with the three acquisitions made in 2011."

Lima also mentions the company's potential acquisitions in the Philippines, saying the deals could be dilutive to earnings by 3-9% in the first year.

For an analyst ratings summary and ratings history on Coca Cola Femsa click here. For more ratings news on Coca Cola Femsa click here.

Shares of Coca Cola Femsa closed at $122.35 yesterday, with a 52 week range of $83.21-$136.84.

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