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Goldman Slightly ups Target, Estimates for Coca-Cola after Q1 Earnings (KO)

By Dividend.com,  April 18, 2012, 10:10:59 AM EDT

Beverage superpower The Coca-Cola Company ( KO ) on Wednesday received some positive commentary from analysts at Goldman Sachs.

The firm maintained its "Conviction Buy" List rating on KO and lifted its price target from $79 to $80. That new target suggests an 8% upside to the stock's Tuesday closing price of $73.95.

Goldman also slightly raised its 2012 and 2013 earnings estimates for the company, following Tuesday's better-than-expected first quarter earnings report. The firm commented, "We continue to favor KO due to its diversified footprint, balanced top-line growth, leading brand equity, and moderating cost pressures."

Coca-Cola shares were mostly flat in morning trading Wednesday.

The Bottom Line
Shares of Coca-Cola ( KO ) have a 2.76% dividend yield, based on last night's closing stock price of $73.95. The stock has technical support in the $68-$70 price area. If the shares can firm up, we see overhead resistance around the $74-$75 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.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: KO



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