Form 10-Q COCA COLA CO For: Sep 27

Go back to Form 10-Q COCA COLA CO For: Sep 27

Coca-Cola (KO) PT Lowered to $76 at BNP Paribas Exane, Remains Top Pick in Beverages

October 24, 2024 12:07 PM EDT

BNP Paribas Exane analyst Kevin Grundy lowered the price target on Coca-Cola (NYSE: KO) to $76.00 (from $78.00) while maintaining a Outperform rating.

The analyst comments "We edge FY25-26 EPS lower (stronger USD) and TP to $76 (prior $78) post KO's mixed 3Q, though the qtr. does very little to change our (+) LT thesis. It is an unforgiving market backdrop in staples for volume shortfalls as growth 'normalizes' (i.e., less pricing contribution as volumes recover). As a result, KO's 3Q price/mix driven OSG/EPS beat was overshadowed by modest... More