Barclays Upgrades Coca-Cola On Turnaround Prospects
By : Investing.com
Published On: 2018-05-21
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Investing.com - Coca-Cola may be underperforming the market now, but Barclays (LON:BARC) thinks its turnaround plan will deliver "sustainably better growth" in the next couple years.In a note to clients, the Wall Street firm called Coca-Cola's business transformation "among the most comprehensive we've seen."Barclays gave the soft drink company an overweight rating and raised its 12-month, stock-price target from $45 to $48 a share.The firm expects Coca-Cola to return to annual sales growth of about 5% in 2019 and 2020 after a 10% decline this year.Coca-Cola shares are down 4% over the past 12 months. The S&P 500 is up 15% during that time.
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