Evercore ISI analyst Robert Ottenstein lowered the firm’s price target on Coca-Cola to $67 from $70 and keeps an Outperform rating on the shares after the company delivered what the firm calls “a high quality 3Q beat.” The firm, which continues to “feel good” about Coke’s ability deliver 5%-6% organic sales growth and drive about 50 basis points of margin expansion per year, cites lower market valuations and higher rates for its lowered price target.
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