Coca-Cola (KO) PT Raised to $59 at Jefferies Expecting a Beat/Raise

Jefferies analyst Kevin Grundy raised the price target on Coca-Cola (NYSE: KO) to $59.00 (from $57.00) ahead of results on Wednesday 7/21 BMO expecting a beat and raise quarter.

The analyst reiterated a Hold rating, stating "While KO gave little color intra-qtr other than the "asynchronous" global recovery, trends in on-premise/ foodservice in DMs (US most notably) have clearly been stronger than expected and read-throughs from PEP's 2Q (+). Post recent stock out-performance and at ~25x P/E, bar is higher into print".

You May Also Be Interested In

• Piper Sandler Reiterates Overweight Rating on Coca-Cola (KO), 'best-in-class execution'
• Petronet LNG Ltd. (PLNG:IN) PT Raised to INR310 at ICICI Securities
• Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities