In a research report published this morning by Bank of America, The Coca Cola Company KO reported 1Q12 results this morning.
"KO reported 1Q12 results this morning. EPS was $0.04 ahead of our estimate and $0.01 ahead of consensus. The upside relative to our model was driven by operating profits ($0.04/share upside)," Bank of America said in the report. "Press release indicates that KO volumes in Northwest Europe and Nordics was down -1.0% in 1Q, this compares to our -1.8% forecast for CCE. Press release also indicates that volume growth improved later in the quarter.
Bank of America maintains its Buy rating and $75 PT on Coca Cola, which closed yesterday at $72.44.
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