Bank of America raised its Coca-Cola (KO) price target to $90 from $88. The bank reiterated its Buy rating following 10% organic sales growth in the first quarter.
Analysts highlighted the company's defensive strength amid rising market volatility and weakening consumer sentiment. Investors are currently rotating from high-valuation technology stocks into dividend-paying companies with pricing power.
Coca-Cola maintains a low beta and a 63-year history of consecutive dividend increases. This upgrade signals a broader market shift toward dependable performers within the consumer staples sector.