Coca-Cola Looks to Consolidate African Operations — Report

The Coca-Cola Co.’s (NYSE: KO) subsidiary Coca-Cola Beverages Africa (CCBA) is looking to consolidate the parent firm’s bottling operations in the continent, a report published by Reuters said, citing the unit’s CEO.

Jacques Vermeulen, CCBA’s CEO, said, “At CCBA, we firmly believe (in) one bottler, one country because that is the only way we can win in Africa.”

“The company is also open to brand acquisitions and partnerships with other beverage makers in the continent,” he added.

About Coca-Cola

Atlanta-based Coca-Cola offers non-alcoholic beverages, including sparkling soft drinks, water, enhanced water, sports drinks, juice, dairy and plant-based beverages, tea, coffee and energy drinks.

Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Costa Coffee, Fanta, Sprite, Minute Maid, Georgia, Powerade, Fairlife, Del Valle, Schweppes, Aquarius, Dasani, Simply, Glaceau Vitaminwater, Gold Peak, Fuze Tea, and Glaceau Smartwater.

Wall Street’s Take

Last week, Barclays analyst (LON: BARC) Lauren Lieberman maintained a Buy rating on the stock with a price target of $70 (15% upside potential).

Overall, the stock has a Strong Buy consensus rating based on 9 Buys and 3 Holds. The average KO price target of $63.92 implies 5% upside potential. Shares have gained 29.1% over the past year.

Smart Score

Coca-Cola scores a “Perfect 10” on TipRanks’ Smart Score rating system. This implies that the stock has strong potential to outperform market expectations, thus making it one of the best growth stocks for 2022.

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