BUZZ-J.P. Morgan cuts Coca-Cola PT on inflationary and forex pressures
** Brokerage J.P. Morgan cuts PT on Coca-Cola KO.N to $70 from $75, citing inflationary and foreign exchange pressures
** Brokerage says "the lower income consumers" in the U.S. continue to face inflationary pressures
** "One of the big questions for the year is the impact to the profit & loss from dollar appreciation leading up to and following President Trump's election," brokerage says
** Adds that "the multibillion-dollar dispute with the Internal Revenue Service" may also weigh
** The beverage giant is currently appealing an August decision by a U.S. tax court where it agreed to pay $6 billion in back taxes and interest to the IRS, according to an AP report
** New PT represents 9.6% upside to stock's last close
** Coca-Cola, set to release its Q4 earnings next month, has beat adj EPS estimates for the last 15 quarters
** 20 of 28 brokerages rate stock "buy" or higher and 8 "hold"; median PT is $71.5 — LSEG
** Stock rose 6% in 2024, compared with a 23% increase in the S&P 500 index .SPX
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