摩根士丹利发布研报，将 可口可乐列为首选股，并重申其"增持"评级，目标价81美元。大摩认为，可 口可乐的有机销售额增速(OSG)的表现远超同行(以及普遍预期);这得益于更强的定价权、良好的历史销 量增长、在有利的竞争环境中市场份额持续增长，以及收购乳制品饮料品牌fa!rlife带来的增长贡献。 ...

Core Viewpoint - Morgan Stanley has identified Coca-Cola (KO.US) as a top pick, reiterating its "overweight" rating with a target price of $81, citing strong organic sales growth (OSG) that outperforms peers and expectations [1] Group 1: Organic Sales Growth (OSG) - Coca-Cola's OSG significantly exceeds that of its competitors, maintaining a long-term growth rate around 5%, while peers fluctuate around 3% [1][2] - The company benefits from strong pricing power, historical sales growth, and continuous market share gains in a favorable competitive environment [2] Group 2: Competitive Advantages - Coca-Cola's advantages include robust pricing capabilities, consistent historical sales growth above peers, and effective marketing and execution strategies [2] - The company is experiencing ongoing market share growth, particularly as competitors face challenges in the snack and coffee segments [2] Group 3: Acquisition Impact - The acquisition of the dairy beverage brand "fa!rlife" has contributed positively to Coca-Cola's growth [3] - Investors can purchase Coca-Cola at similar valuation multiples as its peers, but with significantly higher long-term OSG potential [3]