UPDATE: Jefferies Starts Coca-Cola (KO) at Hold

(Updated - June 10, 2014 7:18 AM EDT)

Jefferies initiated coverage on Coca-Cola (NYSE: KO) with a Hold rating and a price target of $44.00.

Analyst Kevin Grundy comments, "KO’s brands and global reach are among the best in consumer packaged goods; however, the co.’s growth issues are both secular and macro related. KO’s portfolio is over-levered to CSDs (74% of volume), health & wellness trends aren’t going away, and KO’s commentary suggests game changing M&A is unlikely. KO is a great company, although it seems less likely to us that it will return to being a great stock in the current environment. Street est. and valuation look reasonable and we see little in the way of catalysts – initiating with a Hold rating."

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 $40.99 yesterday.

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