Piper starts Coca-Cola with Overweight on global tailwinds

Piper Sandler initiated coverage of Coca-Cola (KO) with an Overweight rating and $74 price target The firm says beverage categories generally have attractive tailwinds globally, as incomes rise in emerging markets and commercial beverages take share. Coca-Cola is positioned to benefit, with sustainable growth and share gains, given its leading global brands and execution, the analyst tells investors in a research note. The firm estimates its brand spending on a bottling system basis is the highest among peers, and Piper expects sustainable pricing momentum for Coca-Cola, especially from emerging markets