Boston Beer downgraded to Neutral on valuation at Credit Suisse » 06:2605/2805/28/20
Credit Suisse analyst…
Credit Suisse analyst Kaumil Gajrawala downgraded Boston Beer (SAM) to Neutral from Outperform with an unchanged price target of $505. The analyst remains positive on the growth outlook for Boston Beer but believes it is reflected in today's $6.5B valuation. The stock is up 40% year-to-date, says the analyst, who no longer expects outperformance versus peers. Gajrawala replaced Boston Beer with Coca-Cola (KO) as his top pick.
|Over a week ago|
Guggenheim raises PepsiCo to 'Best Idea' in Food and Beverage, ups target » 07:2805/1805/18/20
Guggenheim analyst Laurent Grandet raised the firm's price target on PepsiCo (PEP) to $148 from $145 and elevated the shares to "Best Idea" in the Food and Beverage sector. The company is well suited to navigate the COVID-19 pandemic given its smaller exposure to the on-premise channel, especially relative to Coca-Cola (KO), Grandet tells investors in a research note. PepsiCo's Food business, which represents 55% of sales, benefits from higher at-home consumption and it has a strong balance sheet, adds the analyst, who keeps a Buy rating on the shares.
Berkshire exits Travelers, boosts stakes in United and Delta in Q1 » 17:0105/1505/15/20
BRK.A, BRK.B, TRV, PSX, PNC, UAL, DAL, JPM, GS, GM, LUV, AAL, AAPL, BAC, KO, AXP, WFC
Warren Buffett's Berkshire Hathaway (BRK.A, BRK.B) disclosed in an SEC filing its holdings as of March 31, 2020. The fund exited two positions during the first quarter, including by size of previous position Travelers (TRV) and Phillips 66 (PSX). Berkshire increased its stake in three holdings, including by size of previous position PNC Financial (PNC), United Airlines (UAL), and Delta Air Lines (DAL). The fund reduced its stake in 17 holdings, including by size of previous position JPMorgan (JPM), Goldman Sachs (GS), General Motors (GM), Southwest (LUV), and American Airlines (AAL). Berkshire's top holdings as of March 31, in order of size, were Apple (AAPL), Bank of America (BAC), Coca-Cola (KO), American Express (AXP), and Wells Fargo (WFC).
Monster Beverage downgraded to Neutral from Buy at Cit » 06:1005/1105/11/20
Citi analyst Wendy…
Citi analyst Wendy Nicholson downgraded Monster Beverage (MNST) to Neutral from Buy with a price target of $73, down from $77. The analyst views the company's Q1 results a strong but feels the stock is now close to fully-valued. Nicholson thinks the odds of Coca-Cola (KO) buying more shares of Monster in the near-term are low and that competition in the energy drink category has increased.
Guggenheim sees 'strong case' for Coca-Cola to increase Monster ownership » 08:3905/0505/05/20
MNST, KO, PEP
Guggenheim analyst Laurent Grandet raised the firm's price target on Monster Beverage (MNST) to $66 from $60 as he now includes an M&A takeout premium in his valuation given his view that a "strong case" can be made for Coca-Cola (KO) to increase its ownership of Monster following PepsiCo's (PEP) recently announced acquisition of Rockstar and distribution agreement with Bang Energy. Strategically, the analyst believes Coke would benefit from owning the brand because it would consolidate the entire Monster profit pool and give the company freedom to innovate in the energy space with its own portfolio. Despite a more challenged start to the year due to the COVID-19 outbreak, Grandet sees long-term positives - including access to Coca-Cola's global distribution system - that help support Monster's valuation premium, the analyst said. He keeps a Buy rating on Monster shares.
Coca Cola call volume above normal and directionally bullish » 10:2505/0405/04/20
Bullish option flow…
Bullish option flow detected in Coca Cola with 14,994 calls trading, 3x expected, and implied vol increasing over 1 point to 32.36%. Jan-22 52.5 calls and Dec-20 57.5 calls are the most active options, with total volume in those strikes near 9,400 contracts. The Put/Call Ratio is 0.11. Earnings are expected on July 21st.
|Over a month ago|
Berkshire says 69% of securities held in Apple, four other companies » 09:0505/0205/02/20
WFC, KO, BAC, AXP, AAPL, BRK.B, BRK.A
Berkshire Hathaway said…
Berkshire Hathaway said in its earnings release that approximately 69% of its aggregate fair value was concentrated in five companies - American Express (AXP) at $13B, Apple at $63.8B, Bank of America (BAC) at $20.2B, Coca-Cola (KO) at $17.7B and Wells Fargo (WFC) at $9.9.
PepsiCo price target raised to $145 from $134 at Guggenheim » 09:1204/2904/29/20
PEP, KO, MNST
Guggenheim analyst Laurent Grandet raised the firm's price target on PepsiCo (PEP) to $145 from $134 and keeps a Buy rating on the shares after the company reported what he considers to be "exceptionally strong 1Q organic sales growth." In addition to the results, Grandet calls out the exclusive agreement with Vital Pharmaceuticals to distribute Bang Energy in the U.S. That agreement, added to the recent Rockstar acquisition, "makes PepsiCo a leading player in the energy category within only a quarter's time" and gives it a strong portfolio to challenge Coca-Cola (KO), which distributes Monster (MNST) but does not own it, the analyst said.
Coca-Cola announces five-year agreement with Microsoft » 09:0504/2704/27/20
The Coca-Cola Company…
The Coca-Cola Company (KO) announced a five-year agreement with Microsoft (MSFT) to standardize its business operations on Microsoft's cloud and deliver rich new digital experiences that will provide innovative solutions to modernize how the company engages with employees and customers. With this agreement, the companies will utilize the capabilities of Microsoft Azure, Dynamics 365 and Microsoft 365. These solutions will help The Coca-Cola Company gain new insights from data across the enterprise, enabling a 360-degree view of the business, and providing enhanced customer and employee experiences.
Fly Intel: Wall Street's top stories for Tuesday » 16:2504/2104/21/20
IBM, KO, LH, NTDOY, BYND, SBUX, MAN, QRTEA, PM
Stocks fell again today…