Coca-Cola (KO) Price/Mix Looks Good While Industry Softens - Nomura

Nomura Securities analyst Ian Shackleton weighed in on Coca-Cola (NYSE: KO) following AC Nielsen which showed the company's price/mix stayed positive while US industry softens.

Shackleton notes, "AC Nielsen today released its US carbonates data for four weeks ending 10 May 2014. We see industry price/mix weaker than the prior month (+0.8% vs +2.6% month ago), although KO price/mix remains positive (+1.2% y-o-y), while PepsiCo printed negative (-3.5% y-o-y); weaker price/mix may reflect some increased promotional activity over the Easter period (later this year
and in this dataset). In addition, stronger industry volumes (+0.1% this time vs -6.2% a month ago) reflect the impact of later Easter."

The firm maintained a Buy rating and price target of $53.50

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 $40.71 yesterday.

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