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March 16, 2021, 6:02 a.m. EDT

Coca-Cola started at buy with $65 price target at Redburn

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By Steve Goldstein

KO

Coca-Cola /zigman2/quotes/209159848/composite KO +0.59% was started at buy at U.K. broker Redburn with a $65 price target, which said the beverage giant offers exposure to the brand owner and the bottling system, which is an outsourced production model of around 225 bottlers. The next decade will bring 5.5% organic sales growth (50bp ahead of consensus), and 7% organic operating income growth, which is in line with consensus. There is upside optionality from a successful pivot into the alcohol and coffee categories and from refranchising margin-dilutive company-owned bottling assets, the brokerage added. A worst-case result from the Internal Revenue Service case over transfer pricing would lower its price target by $6.

/zigman2/quotes/209159848/composite
US : U.S.: NYSE
$ 64.68
+0.38 +0.59%
Volume: 17.71M
May 27, 2022 4:00p
P/E Ratio
27.28
Dividend Yield
2.72%
Market Cap
$280.39 billion
Rev. per Employee
$508,608
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