Singapore- Goldman Sachs upgraded Coca-Cola to neutral, while downgrading Pepsi.
Goldman’s 12-month price target for Coca-Cola of $46 a share is based on a 20 times forward price-earnings ratio.
Monster Beverage is Goldman Sachs analyst Judy Hong’s favorite pick in the beverage space because of its potential for international growth. To be sure, the firm overall is bearish on the consumer staples sector, of which Coca-Cola and Pepsi are members.
