Movement Alert|Coca-Cola Rises 3.01% in Regular Trading, Multiple Investment Banks Raise Target Prices

Market Focus
Jul 17

On July 17, Coca-Cola rose 3.01% in regular trading, trading at $84.93/share, with turnover of $1.107 billion. The rally was driven by a wave of target price upgrades from major Wall Street investment banks over the past week.

UBS raised its target price on July 16 from $92 to $98. Citi on July 14 significantly lifted its target from $91 to $97 while maintaining a Buy rating. Jefferies adjusted its target from $90 to $95, and Bank of America Global Research also raised its target from $90 to $95. According to FactSet, Coca-Cola carries an average analyst rating of Overweight with a mean target price of $88.38, implying further upside from current levels.

Within the Soft Drinks sector, gains were broadly distributed. Pepsi rose 3.01%, Keurig Dr Pepper gained 3.73%, Monster Beverage advanced 2.32%, and Coca-Cola Europacific added 1.64%. The company is scheduled to report Q2 earnings on July 28, with consensus EPS estimates at $0.92.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10