Morgan Stanley analyst Dara Mohsenian raised the firm’s price target on Coca-Cola to $70 from $68 and keeps an Overweight rating on the shares. Coke’s "robust" 11% organic sales growth in Q4 in terms of unit cases illustrates the company’s strong pricing power, limited demand elasticity, and solid execution, the analyst tells investors. The firm continues to like Coke here, pointing to the company’s 7-8% organic sales growth guidance for FY23 as evidence of strong topline growth, adding that the stock is "now in-line to at a discount to mega-cap peers."
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Published first on TheFly
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