In a report released yesterday, Christopher Carey from Wells Fargo reiterated a Buy rating on Coca-Cola (KO – Research Report), with a price target of $78.00.
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Christopher Carey has given his Buy rating due to a combination of factors including the resilience and confidence observed in the global Coca-Cola system. Despite some challenges in specific regions like Mexico, the overall system shows promising growth in both volume and price/mix, with inflation being a manageable concern.
Furthermore, the analysis indicates potential upside in price/mix estimates, supported by a strong correlation between bottler data and actual Coca-Cola results. While there are cautious notes regarding the Mexican market, other regions such as Europe and expectations for organic sales growth in 2025 contribute to a positive outlook. This, combined with strategic pricing initiatives and a generally stable inflation environment, reinforces the Buy rating for Coca-Cola’s stock.