CFRA Lowers Opinion On Shares Of The Coca-cola Company (NYSE:KO) To Buy From Strong Buy
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target by $2 to $66, based on a ’25 P/E of 22.0x, a discount to KO’s 10-year mean forward P/E of 23.2x. We maintain our adjusted EPS estimates of $2.85 for ’24 and $3.00 for ’25. KO posts Q4 adjusted EPS of $0.49 vs. $0.45 (+9%), in line with consensus. Stronger-than-expected revenue offset weaker-than-forecasted margins, as revenue rose 7% to $10.85B ($200M ahead of consensus), driven by price/mix (+9%) and concentrate sales (+3%), partially offset by currency and other net changes (-5%). Notably, Latin America remained particularly strong, with segment net revenue up 16%. Gross margin expanded 190 bps to 57.3%. KO introduced 2024 adjusted EPS growth guidance of 4%-5%, implying EPS of $2.80-$2.82 (current consensus: $2.81). While we believe the guidance reflects […]
CFRA Lowers Opinion On Shares Of The Coca-cola Company (NYSE:KO) To Buy From Strong Buy Read Post »