Coca-Cola (KO) PT Raised to $62 at Credit Suisse

Credit Suisse analyst Kaumil Gajrawala raised the price target on Coca-Cola (NYSE: KO) to $62.00 (from $60.00) while maintaining an Outperform rating after the firm's EU analyst reinstated coverage of Coca-Cola Europacific (CCEP) post its acquisition of Coca-Cola Amatil. CCEP is the largest bottler in the global Coke system by revenue with operations in Western Europe, Australia, New Zealand, and Pacific regions.

"The bullish stance on CCEP’s post-pandemic growth is a positive signal for the Coke system...," the analyst commented.

"Given vaccination rates, the recovery should be earlier and faster than planned," the analyst added. "Our above consensus numbers (2021 rev/EPS $38.1bn/$2.25 vs Street $36.8bn/$2.18) are becoming realistic to the market."

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