Merrill Lynch Believes Coca-Cola (NYSE: KO) Won’t Stop Here

In a report released today, Bryan Spillane from Merrill Lynch reiterated a Buy rating on Coca-Cola (KOResearch Report), with a price target of $56.00. The company’s shares closed last Monday at $54.06, close to its 52-week high of $54.93.

Spillane has an average return of 7.3% when recommending Coca-Cola.

According to TipRanks.com, Spillane is ranked #3136 out of 7459 analysts.

Currently, the analyst consensus on Coca-Cola is a Moderate Buy with an average price target of $58.80, which is an 8.9% upside from current levels. In a report issued on April 16, RBC Capital also maintained a Buy rating on the stock with a $60.00 price target.

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The company has a one-year high of $54.93 and a one-year low of $43.20. Currently, Coca-Cola has an average volume of 16.66M.

Based on the recent corporate insider activity of 63 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.