Coca-Cola (KO) CFO Meeting Increases Confidence - Wells Fargo

Wells Fargo analyst Bonnie Herzog reiterated an Outperform rating and $50 price target on Coca-Cola (NYSE: KO) after hosting a series of sell-side analyst meetings with incoming CFO John Murphy.

Herzog said it was "a good dialogue, and we came away with increased confidence that KO can meet its l.t. growth targets, incl. 4-6% organic sales growth, fx neutral 6-8% op income growth, fx neutral 7-9% EPS growth and 90-95% adjusted free cash flow (FCF) conversion."

That said, the analyst said shares could be range bound for a bit given investors' disappointment in guidance for yet another year of muted EPS growth.

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

Shares of Coca-Cola closed at $45.28 yesterday.

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