Coca-Cola upgraded to Buy from Hold at Jefferies

Jefferies upgraded Coca-Cola (KO) to Buy from Hold with a price target of $75, up from $69. The firm says the business is in “great shape” as volumes are compounding, pricing has been earned, and the company’s cash flow is about to inflect “meaningfully.” The recent strength in the dollar likely revises 2025 numbers lower, but by only 2c on earnings per share, which is priced in at current share levels, the analyst tells investors in a research note. Jefferies expects Coca-Cola’s Q4 to be a “clearing event, bringing in a wave of investors looking for quality at a fair price.”