Bank Of America Comments On Coca-Cola Amid Monster Deal
Bank of America published a note Friday describing its take on the deal between Coca-Cola (NYSE: KO) and Monster Beverage (NASDAQ: MNST).
The team at Bank of America said, pending closing conditions and regulatory approval, Coca-Cola should see "modest" accretion in fiscal 2015 assuming the deal closed early into the year with the ABI territories franchises in North America.
Amid the deal, Bank of America maintained a Buy rating an $45 price objective on Coca-Cola.
The team commented, "Our Buy rating is based on our view that The Coca-Cola Company should breakout of the current growth lull via a combination of self-help actions, increased marketing investments and an eventual turn in macro.cyclical factors."
To this point, the team said the deal with Monster is consistent with that view.
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