Coca-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: (via BarronsOnline)
Coca-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.
Coke stock rose 1.4% to $56.39 in recent trading. The shares have gained 2.8% year to date, and are up 14.8% in the past 12 months. 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. “This seems way too low, particularly after a well-above-consensus revenue result in the first quarter,” which he thinks was in-line with 2019’s revenue levels on an underlying basis.
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