Guggenheim Turns Bullish On This Beverage Giant

Guggenheim analyst Laurent Grandet upgraded Coca-Cola Co KO to Buy from Neutral with a price target of $66, up from $61, implying an 11.31% upside.
Grandet said the company is exiting the fiscal 2021 transition year "stronger."
The analyst added Coca-Cola is seeing strong emerging markets despite low vaccination rates and that its on-premise sales are recovering faster than expected.
Grandet thinks the company's portfolio rationalization should lead to a "more focused and agile organization" with gross margin benefits.
The analyst views Coca-Cola's valuation as "compelling" at current share levels and sees 12% annual earnings growth through FY23.
Price Action: KO shares are trading higher by 0.94% at $59.86 in premarket on the last check Tuesday.

Momentum65.86

Growth52.74

Quality10.64

Value18.45

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