Coca-Cola price target lowered to $76 from $78 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Coca-Cola (KO) to $76 from $78 and keeps an Overweight rating on the shares. Coke’s stock was modestly down after Q3 EPS, which the firm attributes to “a modest volume miss in the quarter” and foreign exchange guidance for next year that was “more onerous than consensus.” However, the firm adds that “another strong” organic sale growth result in Q3 confirms Coke will land at a higher organic sales growth pace than peers as industry pricing dissipates.