Coca-Cola Femsa price target lowered to $100 from $110 at JPMorgan

JPMorgan analyst Joseph Giordano lowered the firm’s price target on Coca-Cola Femsa (KOF) to $100 from $110 and keeps an Overweight rating on the shares. The firm believes the increase to the beverage excise tax on Oxxo sales in Mexico will not have a material impact on sales. The tax may even be slightly positive, the analyst tells investors in a research note.