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Coca-Cola named top pick in beverages at Morgan Stanley

Morgan Stanley moved Coca-Cola (KO) to its top pick in beverages while reiterating an Overweight rating on the shares with an $81 price target The firm sees sustained organic sales growth far above peers and consensus for Coca-Cola, drive by much stronger pricing power, solid historical volume growth, sustained share gains and a benign competitive environment. Investors can buy Coke at the same multiple as peers, but with “durably higher” long-term organic sales growth, the analyst tells investors in a research note.

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