🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Coca-Cola downgraded to "Hold" at CFRA Research

Published 09/05/2024, 07:21 AM
© Reuters
KO
-
PEP
-

Investing.com -- Analysts at CFRA Research have downgraded their rating of Coca-Cola (NYSE:KO) to "Hold" from "Buy," citing a recent appreciation in the price of the soft drink giant's stock.

In a note to clients released on Wednesday, the analysts said that after a "better-than-expected" second-quarter earnings release, which saw Coca-Cola beat financial targets and raise its full-year earnings per share guidance, "the stock is now fairly valued."

Shares in Coca-Cola have now risen by more than 21% so far this year, outpacing gains in shares of arch rival PepsiCo Inc (NASDAQ:PEP), the analysts noted.

Meanwhile, they flagged lingering concerns around soft drink companies and the broader consumer staples sector, arguing that price and volume growth is facing continued pressure from weak consumer spending.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.