Barclays projects Coca-Cola shares to climb 16%. Idea 18/04/24Shares of The Coca-Cola Company have hovered around the same trading level for the last two and a half years, but analysts at Barclays now predict a potential surge of approximately 16% in the coming months, with a target price of 68 USD in sight. This optimistic forecast is rooted in anticipated growth within the global carbonated drinks market, where Coca-Cola is a major player. The expected market expansion is projected to fuel increases in Coca-Cola's sales.
Additionally, Coca-Cola's long-standing status as a dividend aristocrat β known for consistently paying and increasing dividends for over 25 consecutive years β further bolsters confidence in the company's financial stability and growth prospects.
Analysing Coca-Cola Co. (NYSE: KO) stock for potential trading opportunities:
In the Daily (D1) timeframe, the stock has established a 57.95 USD support level and a resistance at 59.40 USD. Having broken out of its previous trading channel, it has entered a downtrend and is currently testing the trend line. If the support level is breached, a fall to 56.40 USD could be imminent.
However, if the stock can break through the resistance at 59.40 USD, it presents a buying opportunity with a short-term target of 62.50 USD. For investors with a medium-term outlook, holding a position with a target of up to 66.40 USD may be worthwhile.
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