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Coca-Cola: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse has increased its target price for Coca-Cola from 51 dollars to 53 dollars, maintaining its "outperform" rating on the stock, citing "strong" quarterly results.

"We remain positive on Coke shares because we think the company is just starting to embark on a multi-year "journey" of sales growth acceleration within its longer-term 4-6% guidance algorithm," it said.

Credit Suisse wrote in a report to clients that CEO James Quincey is taking an "aggressive approach" to building a "total beverage company," with growth being clearly his top priority.

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