Coca-Cola: shares climb on Morgan Stanley upgrade

(CercleFinance.com) - Coca-Cola shares are up over 2% in early trading on Tuesday, after Morgan Stanley upgraded the stock from "equal-weight" to to "overweight".


Morgan Stanley analysts also raised their target price for the shares from 52 dollars to 55 dollars.

Coca-Cola offers a clearly superior growth outlook compared to consumer packaged goods (CPG) peers, with stronger pricing power, favorable strategy tweaks, solid volume growth, and rebounding emerging market trends, which are not reflected in valuation below historical long-term averages, the analysts commented.

Coca-Cola shares were up 2.3% at 49.2 dollars in early trading on the New York Stock Exchange, outpacing a 0.5% gain in the Dow Jones index.

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