COCA COLA STOCKS RISE ON RATING UPGRADES
Coca Cola’s stock is currently trading at 48.97-higher by 1.85% as compared to the previous closing price. In the pre-market trading session, the stock was trading higher by 1%. The stock has continued gaining after the opening bell.
Investment bank Morgan Stanley upgraded the beverage giant’s stock on Tuesday. The bank upgraded the stock’s rating to overweight from equal weight. Morgan Stanley also raised its 12-month price target to $55 per share from $52.
The bank upgraded the share saying it is trading at an attractive valuation based on its history and relative to likely better-than-expected earnings in coming years. The investment bank also raised 2020 and 2021 EPS estimates by 0.4% and 1.7%, respectively.
On the technical front, the RSI is currently at 62.86% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger Bands and is heading upwards.
TRADE SUGGESTION- LIMIT BUY AT 48.92 TAKE PROFIT AT 49.37 STOP LOSS AT 48.70