Coca-Cola price target lowered to $69 from $71 at RBC Capital

RBC Capital analyst Nik Modi lowered the firm’s price target on Coca-Cola (KO) to $69 from $71 and keeps an Outperform rating on the shares as part of a broader research note previewing Q4 results across HPC, Beverages, and Packaged Food. The firm expects the quarter to be muted for most consumer staples companies, with top line pressures persisting, though RBC also still sees enough bottom line flexibility due to costs/productivity, the analyst tells investors in a research note. FX has gotten worse however, and regulatory and geopolitical risks remain front and center, the firm added.