Coca-Cola price target raised to $78 from $77 at BofA

BofA raised the firm’s price target on Coca-Cola (KO) to $78 from $77 and keeps a Buy rating on the shares. Coke’s Q2 EPS was above the firm’s estimate and Visible Alpha Consensus and the company narrowed its comparable EPS growth range to up 3% year-over-year from a prior call for up 2%-3%), notes the analyst, who thinks shares underperformed given an elevated bar, a miss versus the Street on unit case volumes and a general market unwind. Given yesterday’s beat, the firm is raising its FY25 EPS estimate to $2.97 from $2.95, notes the analyst, who believes the “print will look better in hindsight.”