Coca-Cola Stock Price has Repeatedly Hit Record Highs
Coca-Cola, stock price has repeatedly hit record highs and has a market value of over US$250 billio.
Coca-Cola stock price has risen , and its stock price has repeatedly hit new highs, directly breaking the US$250 billion market value. Many people are asking what Coca-Cola has done to make its stock price so crazy?
1. Coca-Cola, whose share price has repeatedly hit record highs?
In recent times, the share price of the famous beverage giant Coca-Cola has repeatedly hit record highs. On December 16, Coca-Cola’s share price exceeded the $250 billion market value mark. On December 17, Coca-Cola’s share price fell a bit but as of the close. It also reached a stock price of 57.73 U.S. dollars and a market value of nearly 250 billion U.S. dollars, which can be said to be exceptionally dazzling.
Data shows that the current supply chain crisis has almost affected the supply of every consumer product in the United States. Among them, 5% to 10% of products in the food and grocery industry are facing out of stock, and the out-of-stock rate of beverages is as high as 13%, covering Soft drinks, beer and spirits, etc.
If it is said that just because of this news data has supported Coca-Cola’s stock price to record highs, it still seems a bit abnormal. On December 14, the famous international investment bank JPMorgan Chase also gave its own views. On that day, JPMorgan Chase raised the target price of Coca-Cola. The company’s strong sales momentum is expected to continue until 2022. picture
JPMorgan Chase analyst Andrea Teixeira said in a report that the reopening of buy-and-use consumption as scheduled (approximately half of the company’s global sales) coupled with flexible pricing will help Coca-Cola’s revenue growth.
JPMorgan Chase upgraded Coca-Cola’s rating from neutral to overweight, and also raised its target price for the stock from $59 to $63. The new forecast is about 12% higher than the closing price of KO on Friday.
According to JPMorgan Chase’s estimates, in the past, buy-and-use transactions-consumers buying beverages for immediate consumption accounted for about half of Coca-Cola‘s total sales, and the company’s losses in this area have recovered about 70%.
The most supportive one should be Coca-Cola’s recent financial report. According to Coca-Cola’s recent third-quarter financial report, Coca-Cola’s Q3 revenue soared 16% to 10.042 billion U.S. dollars, compared with 8.652 billion U.S. dollars in the same period last year, exceeding 9.75 billion U.S. dollars. Expectations of the dollar.
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