UBS analyst Sean King upgraded Coca-Cola to Buy from Neutral with a price target of $63, up from $55. The stock closed Tuesday down 38c to $53.85. The company is “effectively navigating” aggressive U.S. price increases, a transformational deal for Costa, and demonstrating strong innovation capabilities while reinvigorating growth in high-margin sparkling, King tells investors in a research note. These “comfortably position” Coca-Cola to deliver on growth targets and improve free cash flow through fiscal 2022, adds the analyst. He believes the company’s earnings, range bound since 2011, have reached a “sustainable fundamental inflection” that will drive a multiple re-rating.