Evercore ISI raised the firm’s price target on Coca-Cola to $70 from $67 and keeps an Outperform rating on the shares. Coke “continues to deliver high quality results,” with its Q1 report “emblematic of strong commercial momentum across key markets,” the analyst tells investors. The firm continues to believe that as pricing normalizes, Coke is probably better positioned to deliver at the high end of its 4%-6% top line algorithm than “perhaps most other global staples leaders,” the analyst added.
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