Peter Galbo, an analyst from Bank of America Securities, reiterated the Buy rating on Coca-Cola. The associated price target is $78.00.
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Peter Galbo has given his Buy rating due to a combination of factors including Coca-Cola’s strong financial performance and future growth prospects. The company’s second-quarter earnings per share exceeded both his estimates and the consensus, indicating robust financial health. Although there was a slight underperformance in unit case volumes, the overall market conditions and easing consumption comparisons are expected to drive better performance in the upcoming quarters.
Additionally, Coca-Cola’s impressive gross and operating margin results in the first half of the year are anticipated to continue, albeit at a slower pace. The introduction of a new cane sugar-based Coke product in the U.S. and the potential for improved cash flow in 2026 due to changes in Fairlife capacity and tax conditions further bolster the company’s outlook. Consequently, Galbo has raised his price objective for Coca-Cola to $78, reflecting confidence in its ability to outperform relative to market expectations.
In another report released yesterday, Deutsche Bank also maintained a Buy rating on the stock with a $81.00 price target.
KO’s price has also changed moderately for the past six months – from $61.780 to $69.660, which is a 12.75% increase.