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.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KO:
- Coca-Cola (NYSE:KO) Unfazed by McDonald’s E. coli Outbreak
- McDonald’s down after outbreak, Starbucks slides after warning: Morning Buzz
- Unusually active option classes on open October 23rd
- Coca-Cola: Consumer, economies relatively stable on a global scale
- Morning Movers: AT&T rises and Coca-Cola falls following quarterly reports