Street View: Coca-Cola shows renewed ability to deliver profit growth
** Coca-Cola KO.N is aiming to hit the top end of its organic sales forecast for 2024 as growing demand for its higher-priced sodas and juices in the U.S. helped it post a surprise rise in third-quarter sales on Wednesday
** Stock rated "buy" on avg; median PT is $75- LSEG data
MIXED BAG
** J.P. Morgan ("overweight," PT: $75) remains positive on KO's strong basic financial and operational strengths and its ability to navigate through headwinds
** Wells Fargo ("overweight," PT: $78) says "KO is showing a renewed ability to deliver EPS growth even despite macro headwinds, with sustainable organic sales growth drivers and steady investment levels"
** Deutsche Bank ("hold," PT: $68) says growth of EPS into 2025 is likely to be hindered by foreign exchange (FX) headwinds, rising input costs, and increased interest expenses
** BofA Global Research ("buy," PT: $77) says KO's best-in-class performance, strategic clarity, and balanced investment markets are driving current success and positioning it well for recovery
Reporting by Joel Jose in Bengaluru
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