Text sizeCoca-Cola‘s sales could recover much more quickly than expected from depressed pandemic levels, Morgan Stanley said in a bullish update on the stock Friday. Analyst Dara Mohsenian reiterated an Overweight rating on Coke (ticker: KO) while raising his price target to $64 from $60. He writes that he has “a high degree of conviction that Coke will post an above-average consensus top-line recovery through 2022.”Coke stock rose 1.4% to $56.39 in recent trading. The stock got a boost from Coke’s most recent earnings report in April, and Barron’s named it as a favorite stock for 2021. After all, Coke was already delivering strong organic sales growth before the onset of the pandemic, thanks to product innovation and price increases.

Source: Daily Nation June 05, 2021 10:23 UTC