- 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.
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