Coca Cola Stock Rating Reaffirmed by Zacks (KO)
Zacks reiterated their neutral rating on shares of Coca Cola (NYSE: KO) in a research report sent to investors on Wednesday morning, Analyst Ratings.Net reports. The firm currently has a $44.00 price target on the stock.
Zacks’ analyst wrote, “Coca-Cola’s first quarter 2013 earnings of $0.46 per share beat the Zacks Consensus Estimate of $0.45 by a penny. Moreover, earnings grew 5% from the prior-year quarter as revenue decline was offset by significantly improved margins. Revenues declined 1% as benefit from volume growth was largely offset by currency headwinds, structural changes and two fewer selling days in the quarter. Overall, we are encouraged by Coca-Cola’s global reach, strong brand power, expanding international presence, powerful global bottling network and its solid cash position. Moreover, the integration of Coca-Cola Enterprises’ Bottling business and the company’s productivity initiatives are expected to result in significant cost savings. However, muted volume trends of carbonated beverages and soft economic conditions concern us. We thus maintain a Neutral recommendation with a target price of $44.00.”
A number of other analysts have also recently weighed in on KO. Analysts at UBS AG raised their price target on shares of Coca Cola from $41.00 to $45.00 in a research note to investors on Wednesday. They now have a neutral rating on the stock. Separately, analysts at Bank of America raised their price target on shares of Coca Cola from $44.00 to $46.00 in a research note to investors on Wednesday. They now have a buy rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Coca Cola from $42.00 to $45.00 in a research note to investors on Monday. They now have a buy rating on the stock.
Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Coca Cola presently has a consensus rating of Buy and an average price target of $47.90.
Coca Cola (NYSE: KO) opened at 42.10 on Wednesday. Coca Cola has a 52-week low of $35.58 and a 52-week high of $42.70. The stock’s 50-day moving average is currently $40.01. The company has a market cap of $187.3 billion and a price-to-earnings ratio of 22.03.
The Coca-Cola Company, incorporated on September 5, 1919, is a beverage company. The Company owns or licenses and markets more than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages, such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy and sports drinks.
To view Zacks’ full report, visit www.zacks.com
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