Key Stats for Coca-Cola Stock
- Current Price: $92.71
- Target Price (Mid): ~$108
- Street Target: ~$95
- Potential Total Return: ~17%
- Annualized IRR: ~4% / year
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What Happened?
The Coca-Cola Company (KO) closed at $92.71 on Friday, October 23, down 2.76% from its October 22 close of $95.34. October 22 was also the day it touched a 52-week intraday high of $95.37. No company-specific catalyst was reported. According to CNBC, the Dow fell more than 600 points as oil prices rose, and consumer staples, utilities and healthcare were all lower.
The pullback trims a 32.6% price gain since the end of 2025, ahead of third-quarter results on Tuesday, October 27, before the open. The last report showed where the pressure sits: India.
Asia Pacific Added the Most Volume and Lost Share to India
Second-quarter results for Asia Pacific:
- Volume: Unit case volume rose 8%, the most of any operating segment.
- Price/mix: Fell 9%. Coca-Cola attributed this primarily to unfavorable mix and affordability initiatives.
- Profit: Comparable currency-neutral operating income was even.
- Share: The company lost value share in nonalcoholic ready-to-drink beverages in the region, as gains in Japan and China were more than offset by a loss in India.
- First half: The segment’s comparable currency-neutral operating income fell 8%.
The longer record points the same way. In reported U.S. dollars, not adjusted for currency, Asia Pacific operating income fell from $2.325 billion in 2021 to $2.042 billion in 2025. Its revenue rose from $5.291 billion to $5.638 billion over the same years. By comparison, North America grew operating income from $3.331 billion to $5.070 billion, and Latin America from $2.534 billion to $3.742 billion.
Braun’s India Playbook Favors Volume Over Price
At Barclays’ Global Consumer Conference on September 9, Barclays analyst Lauren Lieberman asked CEO Henrique Braun what success in India looks like without overreacting to competitive pressures. Braun said the task is “how you don’t overreact to noise, but really act on the signals.” Speaking generally about a developing market, he said Coca-Cola “might lose share in one quarter here,” or face a rival pricing irrationally.
His prescription is the fundamentals: the right packaging architecture and brands, built on revenue growth management, and sticking to that plan. He added that seven of the top 10 brands in India are Coca-Cola’s, three of them local brands acquired in the past. If that plan keeps leaning on affordability, as the second quarter’s affordability initiatives suggest, Asia Pacific volume can keep rising while price/mix stays negative.
TIKR tracks 24 analysts on Coca-Cola. How many say “Buy”?
See the full breakdown of Buy, Hold, and Sell ratings on Coca-Cola, along with Wall Street’s revenue and earnings estimates, all in one place. More than 500,000 investors use TIKR to research stocks like this one. See Coca-Cola’s Analyst Ratings
TIKR Advanced Model Analysis
- Current Price: $92.71
- Target Price (Mid): ~$108
- Potential Total Return: ~17%
- Annualized IRR: ~4% / year
The mid case is a price return that excludes the stock’s 2.3% dividend yield. The model’s 2025 to 2035 forecast assumes revenue growth of around 3% a year and a net income margin of around 31%.
Coca-Cola trades at around 27 times forward earnings, against about 16 times for PepsiCo (PEP) and about 14 times for Keurig Dr Pepper (KDP). The return therefore depends on earnings growth rather than a higher multiple. The Street’s mean target of around $95 sits about 3% above the close.
Upside would come from Asia Pacific price/mix turning positive while volume holds. Further India share losses alongside a fading premium could leave the stock flat for years. A loss in the long-running IRS tax dispute is the main company-specific risk.
Conclusion
Price/mix better than the second quarter’s negative 9%, with volume still growing and no repeat of the India share loss, would suggest affordability spending is starting to pay. Another deep negative alongside another India loss would mean the region adding the most volume is still holding back margins.
Two items sit outside these numbers. KFC’s U.S. restaurants switch to Coca-Cola starting in January 2027. Separately, Semafor reported on October 8 that Coca-Cola is again exploring a sale of Costa Coffee, which Coca-Cola did not comment on.
So what is Coca-Cola stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
