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UK: UBS Warburg cuts ratings on Coca-Cola and PepsiCo

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The investment bank, UBS Warburg, has downgraded its ratings and price targets on soft drink corporations, Coca-Cola Co. and PepsiCo Inc., according to sources in the City.

The sources indicated that the bank had downgraded PepsiCo from "buy" to "hold" and cut its price target to $41 from $45. It was also revealed that the company had reduced its rating on Coca-Cola to "buy" from "strong buy", with a new price target of $57 against a previous target of $65.


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