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KO

Coca-Cola

$46.04

0.11 (0.24%)

, PEP

PepsiCo

$120.82

-0.03 (-0.02%)

16:41
03/25/19
03/25
16:41
03/25/19
16:41

AAP and AHA endorse policies to reduce kids' consumption of sugary drinks

Leading health organizations call for excise taxes and limits on marketing to children, among other measures; cite strong evidence of association between added sugars and increased risk of heart disease and other long-term health problems In a joint policy statement, the American Academy of Pediatrics and the American Heart Association endorsed a suite of public health measures-including excise taxes, limits on marketing to children, and financial incentives for purchasing healthier beverages-designed to reduce kids' consumption of sugary drinks. The policy statement, "Public Policies to Reduce Sugary Drink Consumption in Children and Adolescents," will be published in the April 2019 issue of Pediatrics and published online March 25. Companies in the soft drink space include: Coca-Cola (KO), PepsiCo (PEP), Keurig Dr Pepper (KDP) and Cott Corp (COT). Reference Link

KO

Coca-Cola

$46.04

0.11 (0.24%)

PEP

PepsiCo

$120.82

-0.03 (-0.02%)

KDP

Keurig Dr Pepper

$27.81

0.095 (0.34%)

COT

Cott Corp.

$14.62

-0.05 (-0.34%)

  • 17

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KO Coca-Cola
$46.04

0.11 (0.24%)

03/12/19
HSBC
03/12/19
DOWNGRADE
HSBC
Hold
Coca-Cola downgraded to Hold from Buy at HSBC
03/12/19
HSBC
03/12/19
DOWNGRADE
Target $50
HSBC
Hold
Coca-Cola downgraded to Hold on valuation, bottler challenges at HSBC
As previously reported, HSBC analyst Carlos Laboy downgraded Coca-Cola to Hold from Buy, stating that in "trying to grow the pie," Coke is being required to drive revenues with low-margin brands that may take years to scale up. If the "brands that pay the bills" hardly grow and the ones that grow aren't profitable enough, "convincing bottlers to believe" gets harder, said the analyst, who contends that "if the bottlers aren't happy, nobody's happy." The analyst, who also cites valuation given Coca-Cola's new flat EPS guidance, lowered his price target on Coke shares to $50 from $64.
03/12/19
03/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boeing (BA) downgraded to Hold from Buy at Edward Jones. 2. Monster Beverage (MNST) downgraded to Market Perform from Outperform at BMO Capital with analyst Amit Sharma saying Monster's current valuation, both absolute and relative to peers, "may be as good it gets." 3. Coca-Cola (KO) downgraded to Hold from Buy at HSBC with analyst Carlos Laboy saying in "trying to grow the pie," Coke is being required to drive revenues with low-margin brands that may take years to scale up. 4. HP Enterprise (HPE) downgraded to Sell from Neutral at UBS with analyst John Roy saying the company's on-premises hardware sales are being pressured by the growth in public cloud, while the "stock is expecting better." 5. F5 Networks (FFIV) downgraded to Neutral from Overweight at JPMorgan with analyst Samik Chatterjee saying the "expensive" acquisition of NGINX is "tough to digest" given the integration and execution risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/12/19
BMOC
03/12/19
DOWNGRADE
Target $62
BMOC
Market Perform
Monster Beverage downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Amit Sharma downgraded Monster Beverage (MNST) to Market Perform from Outperform with an unchanged price target of $62. The stock closed yesterday up 58c to $61.19. Monster's current valuation, both absolute and relative to peers, "may be as good it gets," Sharma tells investors in a research note. Due to an "unfavorable" sales/product mix and emerging competition in the U.S. from Bang, as well as "disappointing" margin progression abroad, the analyst sees limited ability for the company to meaningfully exceed expectations and justify a higher valuation multiple. Red Bull is not following Monster on its recent price and also appears to be expanding its price cuts to the larger single-serve segment in Walmart (WMT), the analyst contends. Further, he points out that Bang is now capturing nearly 40% of energy drinks growth. Lastly, Sharma sees a "dwindling likelihood" of the "long-hoped-for" buyout of Monster Beverage by Coca-Cola (KO).
PEP PepsiCo
$120.82

-0.03 (-0.02%)

03/07/19
FBCO
03/07/19
INITIATION
FBCO
Credit Suisse starts Household Products & Beverages with Constellation top pick
Credit Suisse analyst Kaumil Gajrawala rolled out coverage last night on eight names in the Household Products & Beverages space. The analyst's ratings consist of three Outperforms, two Underperforms, and three Neutrals. His top pick is Constellation Brands (STZ), which he started with an Outperform rating and $230 price target. The company offers "predictable" high-single digit revenue growth with a valuation that is "well below slower growth peers," Gajrawala tells investors in a research note. His other Outperform ratings are on Monster Beverage (MNST) and Clorox (CLX). The analyst has a $78 price target on Monster, noting it is the fastest growing company in his coverage "with runway for continued growth." He has a $172 price target on Clorox saying the company's "unique" portfolio position justifies a premium valuation. Gajrawala's Neutral rated names are Church & Dwight (CHD), Procter & Gamble (PG) and Coca-Cola (KO). His two Underperforms are PepsiCo (PEP) and Colgate-Palmolive (CL). PepsiCo has a $100 price target as the analyst sees limited upside amid the company's "stepped-up" investment years. Colgate-Palmolive, Gajrawala's less favorite name, has a $55 price target. The company's out-year margins are at risk as it reinvests to address several years of slowing growth and sales declines, Gajrawala contends.
03/11/19
STFL
03/11/19
NO CHANGE
Target $67
STFL
Buy
Hypothetical Bang sale more negative than positive for Monster, says Stifel
Stifel analyst Mark Astrachan examined the hypothetical impact on Monster Beverage (MNST) should a larger beverages competitor acquire Bang, though he noted he has no knowledge of M&A negotiations or discussions with the energy drink competitor. He ultimately concluded a potential acquisition of Bang would be more negative than positive for Monster, though he also noted that risks of an acquisition include potential disruption of Bang's recent momentum, especially if it were to be acquired by PepsiCo (PEP) and transition distribution most likely in-house from the AB InBev (BUD) system. Additionally, a theoretical Bang deal could accelerate a decision by Coca-Cola (KO) regarding acquiring, or not, the remaining shares in Monster it does not currently own, said Astrachan, who keeps a Buy rating and $67 price target on Monster Beverage shares.
03/07/19
03/07/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Five Below (FIVE) initiated with an Outperform at Oppenheimer. 2. Teva (TEVA) reinstated with a Buy at UBS. 3. Chiasma (CHMA) initiated with an Overweight at Cantor Fitzgerald. 4. Monster Beverage (MNST) and Constellation Brands (STZ) were initiated with an Outperform at Credit Suisse, while Procter & Gamble (PG), Coca-Cola (KO), and Church & Dwight (CHD) were initiated with a Neutral, and PepsiCo (PEP), Colgate-Palmolive (CL), and Clorox (CLX) initiated with an Underperform at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/19
FBCO
03/06/19
INITIATION
Target $100
FBCO
Underperform
PepsiCo initiated with an Underperform at Credit Suisse
Credit Suisse started PepsiCo with an Underperform rating and $100 price target.
KDP Keurig Dr Pepper
$27.81

0.095 (0.34%)

01/22/19
GUGG
01/22/19
INITIATION
Target $47
GUGG
Buy
Mondelez initiated with a Buy at Guggenheim
Guggenheim analyst Laurent Grandet initiated Mondelez (MDLZ) with a Buy rating and a price target of $47. The analyst notes that the company had "underdelivered" on its growth promises since its inception but sees the management's recent shift in focus to growth after "years of cost cutting and margin expansion" as a positive. Grandet adds that Mondelez is entering a period of "above-average organic sales and EPS growth" as it builds scale internationally and looks to "monetize its investments in Keurig Dr Pepper (KDP) and / or Jacobs Douwe Egberts" to generate new M&A opportunities.
01/08/19
GSCO
01/08/19
UPGRADE
Target $30
GSCO
Buy
Keurig Dr Pepper upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Judy Hong upgraded Keurig Dr Pepper to Buy and raised her price target for the shares to $30 from $29. The analyst sees the company as providing high earnings visibility and growth. Keurig Dr Pepper is a "quality defensive name" in Consumer Staples with high earnings visibility, improving margins and strong free cash flow generation, Hong tells investors in a research note. Further, she believes the company's exposure to an attractive global coffee category is underappreciated.
12/21/18
MSCO
12/21/18
INITIATION
Target $27
MSCO
Equal Weight
Keurig Dr Pepper resumed with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Dara Mohsenian resumed coverage of Keurig Dr Pepper with an Equal Weight rating and $27 price target, stating that he sees potential near-term EPS upside but also believes its growth potential in coffee, realization of cost synergies and "a strategic halo from JAB" are already reflected in the stock's valuation.
12/13/18
12/13/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alibaba (BABA) assumed with a Buy at Mizuho. 2. Molson Coors (TAP) and Keurig Dr Pepper (KDP) were initiated with a Buy at UBS, while PepsiCo (PEP) and Constellation Brands (STZ) were initiated with a Neutral, and Monster Beverage (MNST) and Boston Beer (SAM) were initiated with a Sell. 3. SeaSpine (SPNE) initiated with an Outperform at Wells Fargo. 4. XPO Logistics (XPO) initiated with a Buy at SunTrust. 5. Enanta (ENTA) initiated with a Hold at Berenberg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
COT Cott Corp.
$14.62

-0.05 (-0.34%)

08/17/18
08/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dare Bioscience (DARE) initiated with a Buy at Maxim. 2. WillScot (WSC) initiated with an Outperform at Credit Suisse. 3. Ligand (LGND) initiated with a Neutral at Goldman Sachs. 4. Cott Corp. (COT) initiated with an Action List Buy at TD Securities. 5. Azure Power (AZRE) initiated with a Buy at Janney Montgomery Scott. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/25/19
JPMS
02/25/19
NO CHANGE
Target $19
JPMS
Overweight
Cott Corp. selloff Friday an overreaction, says JPMorgan
JPMorgan analyst Peter Grom says that while Cott Corp.'s Q4 results were disappointing, the selloff in the shares Friday was an overreaction. Cott is now trading at 9.2 times the analyst's 2019 EBITDA estimate, and he believes the risk/reward is now "even more compelling." Even if Cott's multiple does not expand from here and there is no upside to EBITDA estimates or company guidance, the value that would accrue to the equity alone from the company's cash flow generation and reduction of net debt would still result in mid-teens upside from current levels, Grom tells investors in a research note. He lowered his price target for the shares to $19 from $21 and keeps an Overweight rating on Cott Corp.
09/28/18
JPMS
09/28/18
NO CHANGE
Target $21
JPMS
Overweight
Cott Corp. added to Analyst Focus List at JPMorgan
JPMorgan analyst Peter Grom added Cott Corp. to his firm's Analyst Focus List saying he sees "plenty of room" for shares to outperform through the balance of 2018 and into 2019. The analyst sees improved visibility for both 2018 and 2019 EBITDA after Cott issued a presentation that discussed the company's broader strategy and underlying trends. Further, the shares are still trading at a 19% discount to route-based peers, Grom tells investors in a research note. He keeps an Overweight rating on the stock with a $21 price target.
03/13/19
RBCM
03/13/19
NO CHANGE
Target $20
RBCM
Outperform
Cott Corp is undervalued, says RBC Capital
RBC Capital analyst Nik Modi is keeping his Outperform rating and $20 price target on Cott Corp after its analyst day yesterday, saying the company's commentary supported his long-term bullish thesis. The analyst notes that the management affirmed its FY19 outlook for free cash flows at over $150M, which included "slightly lower synergies and interest savings related to the RCI divestiture and share repurchases. Modi contends that investors should consider acquiring shares given the underperformance in the stock price over the past month.

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