Coca-Cola Femsa upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Lucas Ferreira upgraded Coca-Cola Femsa to Overweight from Neutral with a price target of $102, up from $89. The analyst sees improving momentum for the company. Coca-Cola Femsa’s focus on recovery of market share in Mexico coupled with strong results in Brazil are materializing and its progress on digital/multicategory initiatives bode well for the story, the analyst tells investors in a research note.