The Coca-Cola Co Bullish Stance Reiterated at BTIG Despite Macros & F/x Weakness
BTIG analyst Theo Brito came out with his views on The Coca-Cola Co (NYSE:KO), as weakening macros & F/x have weighed on the stock this year. However, the analyst believes commodities and pricing will likely be bigger tailwinds than expected.
Moreover, the analyst continues to anticipate stronger results from a simplified business model—bottler re-franchising, de-layering, zero-based budgeting, revised incentive metrics—and extra cost savings. As such, the analyst sees limited downside to KO shares.
Brito concluded, “We believe Coke is under-earning vs. potential and expect growth to accelerate over time behind better execution, improved macros.”
The analyst reiterated a Buy rating on KO with a price target of $48, which implies an upside of 18% from current levels.
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Theo Brito has a total average return of 9.8% and a 54.5% success rate. Brito has a 2.0% average return when recommending KO, and is ranked #1486 out of 3571 analysts.