Bank of America: The Coca Cola Company's Volume Drives 1Q Upside

In a research report published this morning by Bank of America, The Coca Cola Company

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.