The Coca-Cola Company Stock (KO): $66 Price Target From Guggenheim

By Amit Chowdhry ● Jan 9, 2022
  • The shares of The Coca-Cola Company (NYSE: KO) have received a $66 price target from Guggenheim. These are the details.

The shares of The Coca-Cola Company (NYSE: KO) have received a $66 price target from Guggenheim. And Guggenheim analyst Laurent Grandet upgraded Coca-Cola to a “Buy” rating from a “Neutral” rating while increasing the price target from $61.

Grandet noted that the company is exiting the fiscal 2021 transition year stronger. And Grandet said that Coca-Cola is seeing strong emerging markets despite low vaccination rates and that its on-premise sales are recovering faster than expected.

Plus Grandet pointed out that the company’s portfolio rationalization should lead to a more focused and agile organization with gross margin benefits.

Going forward, Grandet views Coca-Cola’s valuation as compelling at current share levels and sees 12% annual earnings growth through fiscal 2023.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.