The stock of Coca-Cola climbed 2% on Tuesday after Guggenheim raised its target price to $66.

The revised target is $66.47, which is 9% higher than the stock's current price of $60.47.

According to sources, analyst Laurent Grandet had a $61 price objective for the company previously.

According to Grandet, the year 2021 was a transitional year for the corporation, with a much better year ahead in 2022. He points out that emerging markets, notwithstanding their low immunization rates, offer good growth opportunities. He claims that the company's on-premise sales are returning more quickly than predicted and that reorganization and portfolio simplification have resulted in a more focused and nimble group. According to the expert, this should enhance the gross margins.Nonprofit Health Group Tried To Bury Funding From Coca-Cola, Study Says | IFLScience

Grandet considers Coa-values Cola's appealing after the company's underperformance compared to PepsiCo and the consumer staples-focused XLP Index.

Coca-Cola boosted its prediction in October, aiming for 13.5% adjusted organic revenue growth in the middle of the fiscal year 2021, up from 13% previously.

The business forecasts a 16% growth in annual adjusted profit per share, compared to a previous prediction of a 14% gain in the middle of the range.

In the three months ended Oct. 1, the company effectively implemented price hikes and rode robust demand for its soda and beverages. The reopening of the economy pushed people to theaters and restaurants, resulting in a 16% increase in revenue to $10.04 billion. Because of the pandemic's health dangers, consumers sought out bottled Coke, juices, and water.

Sales in Europe, West Asia, Africa, and Latin America drove a 6% increase in unit case volumes.