JP Morgan Cuts the Estimates of the Coca-Cola Company (KO)
On Wednesday analysts at JP Morgan lowered the estimates through 2013 for The Coca-Cola Company (KO).
The analysts believe that KO is leveraged for slower international growth, resulting in the cut to earning estimates. JP Morgan gives Coca-Cola a “Neutral” rating with a price target of $43. The target is a +16% upside from Tuesday’s closing price of $37.15.
Coke shares were up 6 cents, or +0.16%, in premarket trading on Wednesday.
The Bottom Line
Shares of Coca-Cola (KO) have a 2.75% dividend yield, based on last night’s closing stock stock price of $37.15. The stock has technical support in the $35-$36 price area. If the shares can firm up, we see overhead resistance around the $40-$41 price levels.
The Coca-Cola Company (KO) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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