Coca-Cola Co. shares are up 1.1% in premarket trading after the beverage giant was upgraded to buy from hold at Stifel, with analysts citing expectations of improved organic growth. The bank established a price target of $54. Stifel forecasts 5% annual growth “for the foreseeable future,” with Latin America a global highlight. Analysts also believe the company could eliminate an additional $4.3 billion to $6.1 billion in costs. Coca-Cola announced a cost-cutting program, with a goal of $3 billion in savings by 2019. Coca-Cola shares are down 2.5% over the past 12 months. The S&P is down 5.2% for the same period.
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