Argus analyst Taylor Conrad raised the firm’s price target on Coca-Cola to $70 from $67 and keeps a Buy rating on the shares. The company has recognized that it needs to diversify revenue away from sugary soda, and it should make progress toward this goal, the analyst tells investors in a research note. Coca-Cola’s innovation has also improved in making the portfolio of brands less bloated and more profitable, Argus states, adding that Coke is now a stronger company than it was at the beginning of the pandemic.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on KO:
- Fly Insider: Sphere, Alaska Air among week’s notable insider trades
- British American Tobacco Stock (NYSE:BTI): Wide Moat, 10% Dividend Yield
- Buffett says American Express, Coke holdings likely ‘untouched’ in 2024
- 3 Passive Income Stocks You Can Consider Buying Today
- Coca-Cola increases quarterly dividend 5.4% to 48.5c per share
