Despite a dominant global market share and diverse revenue streams, Coca-Cola’s (KO) shares have dipped recently and underperformed since the beginning of the year. Is KO a Buy in the recent dip? Keep reading to find out.Coca-Cola (NYSE:KO) is one of the most popular nonalcoholic beverage companies worldwide. The company’s product portfolio spans sparkling soft drinks; water, enhanced water, and sports drinks; juice, dairy, and plant-based beverages; tea and coffee; and energy drinks. The stock has dropped 5.4% over the past month and 2.6% over the past five days to close the last trading session at $52.64. The recent dip can be attributed to the investors shifting toward cyclical sectors with a solid recovery and increasing risk appetites.
However, analysts are optimistic about the stock’s near-term prospects. Out of the 14 Wall Street analysts that rated KO, eight rated it Buy while six rated it hold. The median price target of $62.07 indicates a potential upside of 17.9% from its last closing price.
Here’s what could shape KO’s performance in the near term: