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KO

Coca-Cola

$49.65

-0.85 (-1.68%)

13:17
11/20/18
11/20
13:17
11/20/18
13:17

Moody's downgrades Coca-Cola to A1 after Costa acquisition

Moody's downgraded the senior unsecured long term rating of Coca-Cola to A1 from Aa3 and affirmed the company's Prime-1 short term ratings. These actions conclude the review for downgrade that was initiated on August 31 following the company's announcement that it had agreed to purchase Costa Limited for $5.1B in cash. "The downgrade reflects Moody's view that Coca-Cola has adopted a more aggressive financial policy, and that the system financial leverage will be more consistent with an A1 rating," the agency agency says in a statement. The acquisition "provides diversification into a growing beverage space, but introduces new risks since it operates differently than Coke's core, ready to drink packaged beverage businesses," adds Moody's. "The acquisition follows its August 2018 investment in BodyArmor sports drinks. The two transactions demonstrate the likelihood that cash resources will be used for investment opportunities in addition to debt repayment. Finally Coca-Cola's dividend has grown faster than earnings and remains high, leaving retained cash flow somewhat weak relative to debt."

  • 03

    Mar

KO Coca-Cola
$49.65

-0.85 (-1.68%)

11/08/18
SUSQ
11/08/18
NO CHANGE
Target $46
SUSQ
Negative
Monster Beverage results solid, but Coke conflict an overhang, says Susquehanna
Susquehanna analyst Pablo Zuanic said Monster Beverage (MNST) reported solid Q3 earnings, though gross margins missed again. However, he thinks a price hike effective on November 1 should mitigate the gross margin pressure. He believes a budding conflict with Coca-Cola (KO) could call into question the company's ability to grow and will be an overhang on the stock. Zuanic reiterated his Negative rating, though he raised his price target to $46 from $44 on Monster Beverage shares.
11/09/18
SBSH
11/09/18
NO CHANGE
Target $56
SBSH
Buy
Coca-Cola should trade at a 50% premium to market, says Citi
After spending time in Europe with CEO James Quincey, Citi analyst Wendy Nicholson says her confidence in Coca-Cola "continues to go up." Given her confidence in the company's ability to deliver on its growth targets, she continues to believe the stock should trade at a 50% premium to the market. The analyst raised her price target for Coca-Cola shares to $56 from $54 and keeps a Buy rating on the name.
11/09/18
BMOC
11/09/18
NO CHANGE
Target $60
BMOC
Outperform
Monster Beverage price target lowered to $60 from $70 at BMO Capital
BMO Capital analyst Amit Sharma lowered his price target on Monster Beverage (MNST) to $60 to reflect its selloff yesterday on reported possibility of Coca-Cola (KO) entering the energy drink category. The analyst notes however that while the threat may pose a near-term overhang on the stock, the impact on its growth and valuation is likely overblown. Sharma cites the "deep economic alignment" between the two companies and their bottlers, along with the company's willingness to find an acceptable resolution. The analyst also keeps his Outperform rating on Monster Beverage.
11/09/18
GSCO
11/09/18
UPGRADE
Target $66
GSCO
Conviction Buy
Monster Beverage upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman analyst Judy Hong added Monster Beverage to the Conviction Buy List saying concerns over the dispute Coca-Cola (KO) are overdone and recommends buying shares on weakness. Hong believes Monster's shares downside is limited from a Coca-Cola Energy launch and does not believe the partnership is in jeopardy. The analyst sees upside to consensus 2019/20 estimates and a path to her $66 price target based on mid-teens plus earnings growth.

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