UBS Maintains a 'Neutral' on Coca-Cola (KO); Results Good, but Valuation Looks Full

UBS maintains a 'Neutral' on Coca-Cola (NYSE: KO) price target raised from $73 to $77.

Analyst, Kaumil S. Gajrawala, said, "With concentrate sales (+3%) beating our expectation (+2.7%), we are slightly raising our 2012-13 EPS estimates to $4.11 and $4.55, from $4.06 and $4.49, respectively. Our new FY12 estimates are based on: 1) 4.2% global volume growth, 2) FX headwinds of 3.7%, 3) modest gross profit margin expansion (from flat) as commodity outlook improves, and 4) $42m in interest income."

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 $73.95 yesterday.

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