Coca-Cola price target lowered to $67 from $68 at JPMorgan

JPMorgan lowered the firm’s price target on Coca-Cola (KO) to $67 from $68 and keeps an Overweight rating on the shares ahead of the Q2 report. The analyst says “more resilient than expected” macro conditions could buffer Coca-Cola’s performance given its higher exposure to out-of-home consumption. It notes the company is now trading at a 9% discount to PepsiCo (PEP) versus its five-year average 2.1% premium.