Shares of Coca-Cola Co could rise 10 percent or more in the next year after the company pinpointed North America as a growth market, Barron's business weekly reported on Sunday.
It said the company's stock has risen 3 percent since Chief Executive Officer Muhtar Kent's July 21 forecast of growth in the region where soda sales have been declining for years.
Barron's cited CLSA analyst Caroline Levy as saying the company's 2 percent growth in North American volume was stunning.
She raised her 2010 and 2011 earnings and revenue estimates for the company and said she expects Coca-Cola stock to hit $63 in a year. It closed last week around $55.
Levy said she thinks the company can sustain 2 percent volume growth in North America.
I don't see North America as the weak link, Barron's quoted her as saying.
Should management prove that the pop in North American volume can last ... the stock could easily go higher still, Barron's said.
(Reporting by Steve James; editing by Bernard Orr)