Credit Suisse Believes Coca-Cola (NYSE: KO) Still Has Room to Grow

In a report released today, Kaumil Gajrawala from Credit Suisse maintained a Buy rating on Coca-Cola (KOResearch Report), with a price target of $63.00. The company’s shares closed last Wednesday at $56.55, close to its 52-week high of $57.56.

According to, Gajrawala is a 4-star analyst with an average return of 7.9% and a 65.5% success rate. Gajrawala covers the Consumer Goods sector, focusing on stocks such as Constellation Brands, Duckhorn Portfolio, and Colgate-Palmolive.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Coca-Cola with a $61.75 average price target, which is a 7.7% upside from current levels. In a report issued on July 16, Barclays also maintained a Buy rating on the stock with a $63.00 price target.

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Based on Coca-Cola’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.02 billion and net profit of $2.25 billion. In comparison, last year the company earned revenue of $8.6 billion and had a net profit of $2.78 billion.

Based on the recent corporate insider activity of 66 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KO in relation to earlier this year.

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The Coca-Cola Co. offers non-alcoholic beverages, including sparkling soft drinks, water, enhanced water, sports drinks, juice, dairy and plant-based beverages, tea, coffee and energy drinks. Its key brands include Coca-Cola, Diet Coke, Coca-Cola Zero, Costa Coffee, Fanta, Sprite, Minute Maid, Georgia, Powerade, Fairlife, Del Valle, Schweppes, Aquarius, Dasani, Simply, Glaceau Vitaminwater, Gold Peak, Fuze Tea, and Glaceau Smartwater. The company was founded by Asa Griggs Candler in 1886 and is headquartered in Atlanta, GA.