J.P. Morgan thinks the next six months will be "difficult" for stocks in its beverages/household products coverage universe, and downgrades Coke, Colgate and Alberto-Culver to neutral from overweight. Firm looks for "sluggish top-line growth due to a weak consumer, and if the market continues to rise (which is consensus thinking), we see little enthusiasm for these stocks in the broader market." JPM says "KO has to deal with weak North American and Japanese top-line growth," while CL has "the best fundamentals in our large cap universe," but that's priced in. And ACV looks a bit pricey vs peers, firm adds.
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