Citi and Morgan Stanley have recently upgraded their ratings for Coca-Cola Company (NYSE:KO), reflecting confidence in its resilience against economic downturns. With Citi initiating coverage at a Buy rating and a $68 target, and Morgan Stanley raising its target to $70, Coca-Cola is positioned as a top defensive stock amid recession fears, supported by 58 hedge funds holding stakes. This trend of favoring stable investments is echoed across companies like The Home Depot, Costco, and AbbVie, all of which are attracting significant hedge fund attention.
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