US: Coca-Cola sees share coverage upped
Coca-Cola has had its coverage raised.
The soft drinks company, which earlier this week confirmed it will buy vitamin water maker Glaceau for US$4.1bn, has seen its rating upped to 'buy' from 'hold' by Citigroup this week.
The broker said that, now, Coca-Cola is "addressing issues head-on" through acquisitions like Glaceau and FUZE Beverages, it has addressed many of the past concerns that we had identified and is moving toward achieving a more balanced portfolio."
Glaceau, formally known as Energy Brands, will soon operate as a separate business unit within Coca-Cola North America. Its top three executives plan to lead the business for a minimum of three years after the deal closes.
This week, The Coca-Cola Co. snapped up niche US firm Fuze Beverage. The acquisition signals a realisation from Coca-Cola Co. that it needs to bolster its presence outside the carbonates market in the...
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