J.P. Morgan downgrades Coke to neutral after concerns over tax battle
Coca-Cola stocks were down nearly 9 percent, following’s the stock’s fourth downgrade as analysts grapple with the beverage giant’s future. Investors are downgrading the stock after news that the company has hired a special advisor to help it fight the IRS over billions of dollars in taxes the company could owe. J.P. Morgan analyst Andrea Teixeira joins ‘Closing Bell’ to discuss why she cut her rating on the stock to Neutral from Overweight.
Thu, Jan 7 20214:09 PM EST