Novo Nordisk, Eli Lilly fall after Trump comments on weight loss drug pricing
Investing.com - JPMorgan has reiterated its Overweight rating and $79.00 price target on Coca-Cola (NYSE:KO), representing potential upside from the current price of $66.43, following meetings with company representatives at the U.S. All-Stars Conference in London last week. According to InvestingPro analysis, the stock appears fairly valued based on its proprietary Fair Value model.
The investment bank hosted Coca-Cola’s Vice President of Investor Relations Robin Halpern and Senior Director of Investor Relations Taylor Polivka at the conference, where they discussed several key topics related to the beverage giant’s strategy and outlook.
Central to the discussions was Coca-Cola’s ability to maintain what JPMorgan described as a "best-in-class long-term growth algorithm," which includes organic sales growth targets of 4-6%.
The meetings also covered Coca-Cola’s portfolio evolution to address changing consumer preferences, particularly in hydration and ready-to-drink protein products, according to JPMorgan’s report.
Additional topics discussed included GLP-1 medications, MAHA, potential excise tax risks in Mexico, and the company’s digital transformation efforts across consumer, customer, and enterprise segments of the business.
In other recent news, Coca-Cola reported better-than-expected second-quarter results, with organic revenue growth, gross margin, and operating profit surpassing analyst forecasts. The company maintained its constant-currency earnings per share outlook for fiscal year 2025, with core EPS now tracking toward the high end of its guidance range due to less severe foreign exchange headwinds. In response, BofA Securities raised its price target for Coca-Cola to $78, maintaining a Buy rating, while UBS lowered its target to $84, also maintaining a Buy rating.
Additionally, Coca-Cola Beverages South Africa plans to cut over 600 jobs, as reported by Business Day, citing opposition from the Food and Allied Workers Union. In potential merger news, Apollo Global Management has engaged in early discussions regarding a possible acquisition of Coca-Cola’s Costa coffee chain. However, bids for Costa are not expected for several weeks. These developments come amid broader industry changes, including new restrictions on SNAP benefits in six more states, which will prohibit the purchase of soda, candy, and other junk foods.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.