Gabelli Has Buy Rating On Coca-Cola

Gabelli & Co. is out with a research report on Coca-Cola KO after the company reported earnings yesterday. It has a Buy rating on shares. In a note to clients, Gabelli & Co. writes, "Currency is expected to deliver a mid single-digit operating income benefit in 2011, helping offset some of the $700 mm of projected incremental raw material costs We expect KO to earn $3.85 per share in 2011 growing to $4.35 by 2012; trading at 16x our 2012P EPS, we find KO's valuation attractive considering the company's global leadership in the non-alcoholic ready-to-drink beverage industry." Shares of KO closed at $69.32 yesterday.