Citi has launched coverage of The Coca-Cola Company with a Buy rating and a price target of $68, emphasizing its appeal as a defensive stock amid potential recession concerns. The company is seeing increased institutional interest, evidenced by 58 hedge funds holding stakes, including Berkshire Hathaway's substantial investment. Morgan Stanley has also raised its price target for Coca-Cola to $70, reflecting optimistic expectations for the company's performance as it continues a long tradition of dividend growth, having returned over $9.5 billion in free cash flow in FY22 and maintaining its 61-year streak of dividend increases.
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