CNBC Pro

Morgan Stanley hikes Coca-Cola price target, says market is underestimating post-pandemic recovery

A worker restocks a display of Coca-Cola Co. soft drinks at a store in Orem, Utah, U.S., on Tuesday, Feb. 9, 2021.
George Frey | Bloomberg | Getty Images

Coca-Cola is poised to beat estimates this year, and that will create additional upside for the stock, according to Morgan Stanley.

Analyst Dara Mohsenian reiterated his overweight rating on the stock and hiked the price target to $64 per share from $60. Mohsenian said in a note to clients on Thursday evening that other analysts were underestimating Coke's recovery from the pandemic.

More In Street Calls

Goldman predicts where the stock market is headed in a ‘hard landing’ or other economic scenarios
CNBC ProGoldman predicts where the stock market is headed in a ‘hard landing’ or other economic scenarios
Growing inventories could be a red flag for these stocks into earnings reports
CNBC ProGrowing inventories could be a red flag for these stocks into earnings reports
Here are Thursday's biggest analyst calls: Apple, Tesla, Pinterest, Target, Verizon & more
CNBC ProHere are Thursday's biggest analyst calls: Apple, Tesla, Pinterest, Target, Verizon & more