(News Bulletin 247) – Jefferies reiterates its ‘outperformance’ opinion on Coca-Cola with a price target raised from $65 to $68, confirming a 2023 EPS assumption of $2.60 that it had raised before the publication of the last results of the soda giant.
He recalled that this increase to 2.60 dollars, which he justified by a more favorable outlook in terms of exchange rates, implies growth in the middle of the single-digit range and is in line with the group’s current objectives.
‘With 2022 now behind us, we are introducing an EPS estimate of $2.81 for 2024, which would therefore imply growth in the high single digit range (around 8%) compared to that expected for 2023’, adds the broker.
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