VTI - Coca-Cola's Refreshing Results: Analysts Bullish Despite Near-Term Concerns | Benzinga
Yesterday, Coca-Cola Co (NYSE:KO) reported first-quarter FY24 sales growth of 3% year-on-year to $11.3 billion, beating the analyst consensus estimate of $11.01 billion. Adjusted EPS of $0.72 came in above street view.
The following are the comments from various analysts on the company’s first-quarter earnings performance.
Goldman Sachs – Reiterates Neutral, $60.00 price target
Analyst Bonnie Herzog said KO delivered an impressive start to the year with solid organic revenue growth of 11%, handily outpacing expectations.
The strong topline growth, coupled with some benefits from bottler re-franchising and underlying gross margin expansion, helped drive strong gross margin expansion, said the analyst.
Given the strong quarter, KO updated its FY24 guidance and now expects organic revenue growth of +8-9% and f/x-neutral EPS growth of +11-13%, which are quite strong relative to its peers.
Meanwhile, the analyst noted KO’s ability to generate faster dollar EPS growth this year is somewhat limited, which could weigh on the stock in ...