Barclays Analyst Optimistic About Coca Cola, Raises Price Target by 10%

Barclays's Lauren Lieberman raised their price target on Coca Cola (NYSE: KO) by 10% from $60 to $66 on 2024/01/16. The analyst maintained their Strong Buy rating on the stock.

In a recent report, Lieberman delved into various sectors, including Consumer Goods (Beverages, Household & Personal Care). The analyst advised investors to focus on companies with a "digestible valuation" and a clear path to growing volume ahead of the Q4 reporting season.

When it comes to the Food sector, Lieberman expressed interest in how reporters guide given volume recovery across the space "has largely lagged expectations." Furthermore, the analyst stated that "monolithic, macro-driven moves in staples names are likely to be less of a driving force with interest rates now likely in a tighter and lower band than has been the case over the past three months."

Lieberman also highlighted the potential in more "idiosyncratic names" now that the concerns surrounding GLP-1s seem to have subsided.

On the same day, Lieberman made adjustments to the price targets of several other companies in their portfolio. Colgate Palmolive Co saw its price target raised by 9.3% to $82, while Coty Inc had its price target increased by 18.2% to $13. On the other hand, Mccormick & Co Inc and Molson Coors Beverage Co had their price targets lowered by -4.1% and -1.5% respectively, to $71 and $64.

According to top-rated analysts, 100% of them currently rate KO as a Strong Buy or Buy, with no analysts considering it a Hold or recommending selling the stock.

The consensus forecast among analysts predicts that KO will achieve earnings per share (EPS) of $2.68 in the upcoming year. If these predictions hold true, KO's next yearly EPS will be up by 8.1% compared to the previous year.

In recent performance, KO's stock price has increased by 7.2% since its last quarterly report on 2023/09/29. However, on a year-over-year basis, the stock has declined by 2.7%. During the same period, KO has underperformed the S&P 500, which has experienced a 19.4% decline.

Lauren Lieberman, the Barclays analyst who made the rating changes, is ranked in the top 25% of Wall Street analysts by WallStreetZen. With an average return of 1.3% and a 45.4% win rate, Lieberman specializes in the Basic Materials and Consumer Defensive sectors.

Coca-Cola Company, founded in 1886 and headquartered in Atlanta, GA, manufactures and sells nonalcoholic beverages under well-known brand names in the U.S. and internationally.

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