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KO.NYSE
Coca-Cola
Consumer Staples · Soft Drinks & Non-alcoholic Beverages

Global beverage company with brands including Coca-Cola, serving consumers through sparkling drinks, juices, water, and other beverages.

HQ: United StatesListed: United States

Historical AI Opinions

Audit every published iPulse AI forecast batch and immutable historical research document for Coca-Cola.

The Coca-Cola Company (KO.NYSE) AI OPINIONS & ADVISOR ANALYSIS

Read and compare the 14 individual AI Advisor deep-dive reports, including their forecast paths, ratings, price targets, and reasoning.

Updated on 20 September 2026Deep analysis 20 September 2026

25 min readAudit All Past Forecasts

1. Investment Thesis — Base Case

The evidence points one way: Coca-Cola's economics are improving while its price has already collected the reward. Q2 2026 delivered 5% global unit case volume with every segment growing, guidance rose to 9-10% comparable , and refranchising keeps shifting onto bottlers [1][4][12]. But the stock re-rated from roughly 21.9x to 26.3x forward in a single year while the ten-year yield climbed to 5.00% [6]. That is scarcity pricing, not discount-rate relief. Across five years, earnings compound while the multiple slowly gives ground, leaving mid-single-digit total returns.

  • Comparable near $3.28 in 2026 compounding at 6-7% implies roughly $4.40-4.55 by 2031.
  • A drift from 26.3x toward 23x converts that earnings growth into low-single-digit annual price appreciation.
  • At $105 across 4.31 billion shares, implied equity value near $455 billion still demands sustained volume delivery.

Historical prices and published forecast

Historical prices and published forecastObserved prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in USD.47.0262.9278.8294.72110.62Sep 2021Mar 2024Sep 2026Mar 2029Sep 2031Forecast starts
  • Observed price
  • Published advisor forecast
Observed prices and the selected advisor's published projection share a split-adjusted price basis. Prices after the forecast start are later observations, not information known at publication. Forecasts are uncertain. Values in USD.
View chart values
Historical prices and published forecast — published chart values
SeriesDateValue (USD)
Observed price2021-09-1654.5
Observed price2021-10-0453.1
Observed price2021-10-2154.5
Observed price2021-11-0756.3
Observed price2021-11-1356.3
Observed price2021-12-0152.3
Observed price2021-12-1257.6
Observed price2022-01-0460.7
Observed price2022-01-2260.3
Observed price2022-02-0261.6
Observed price2022-02-1460.9
Observed price2022-03-0362.5
Observed price2022-03-0958.4
Observed price2022-04-0162.9
Observed price2022-04-0763.5
Observed price2022-04-1865.8
Observed price2022-05-0664.7
Observed price2022-05-1761.3
Observed price2022-06-0463.0
Observed price2022-06-1559.2
Observed price2022-07-2061.6
Observed price2022-07-2663.3
Observed price2022-08-0663.4
Observed price2022-08-1865.1
Observed price2022-08-2962.2
Observed price2022-09-2258.9
Observed price2022-09-2756.9
Observed price2022-10-0954.9
Observed price2022-11-0158.9
Observed price2022-11-1861.4
Observed price2022-11-2462.6
Observed price2022-12-1263.9
Observed price2022-12-2363.8
Observed price2023-01-1560.4
Observed price2023-01-2761.1
Observed price2023-02-1359.4
Observed price2023-03-0359.3
Observed price2023-03-0859.9
Observed price2023-03-2060.0
Observed price2023-04-1262.8
Observed price2023-04-2463.9
Observed price2023-05-0563.5
Observed price2023-05-1763.3
Observed price2023-06-0360.1
Observed price2023-06-2161.3
Observed price2023-07-0859.9
Observed price2023-07-1460.6
Observed price2023-07-2562.2
Observed price2023-08-1260.8
Observed price2023-09-0458.9
Observed price2023-09-1558.5
Observed price2023-10-0354.8
Observed price2023-10-0853.0
Observed price2023-11-0156.5
Observed price2023-11-0656.7
Observed price2023-11-2958.6
Observed price2023-12-2358.1
Observed price2023-12-2859.1
Observed price2024-01-0960.0
Observed price2024-01-2659.6
Observed price2024-02-0160.9
Observed price2024-02-1359.4
Observed price2024-03-0159.5
Observed price2024-03-1361.0
Observed price2024-03-3060.6
Observed price2024-04-1658.5
Observed price2024-04-2861.9
Observed price2024-05-1563.1
Observed price2024-05-2761.9
Observed price2024-06-0763.8
Observed price2024-07-0662.8
Observed price2024-07-1865.0
Observed price2024-07-2466.0
Observed price2024-08-1669.2
Observed price2024-08-2269.4
Observed price2024-09-0272.4
Observed price2024-09-2071.6
Observed price2024-10-0769.4
Observed price2024-10-1869.9
Observed price2024-11-1163.3
Observed price2024-11-2864.2
Observed price2024-12-0462.2
Observed price2024-12-1562.6
Observed price2025-01-0761.3
Observed price2025-01-1361.8
Observed price2025-02-0563.3
Observed price2025-02-1166.4
Observed price2025-02-2371.2
Observed price2025-03-1869.6
Observed price2025-03-2971.0
Observed price2025-04-1070.1
Observed price2025-04-1672.6
Observed price2025-05-1570.1
Observed price2025-05-2671.9
Observed price2025-06-0771.4
Observed price2025-06-1869.8
Observed price2025-07-0671.0
Observed price2025-07-2369.2
Observed price2025-08-2170.2
Observed price2025-08-2768.8
Observed price2025-09-0269.0
Observed price2025-09-2566.4
Observed price2025-10-0166.3
Observed price2025-10-2470.6
Observed price2025-11-0469.1
Observed price2025-11-2271.9
Observed price2025-11-2773.1
Observed price2025-12-2170.2
Observed price2026-01-0767.8
Observed price2026-01-1971.7
Observed price2026-01-2472.4
Observed price2026-02-1679.4
Observed price2026-02-2280.5
Observed price2026-03-1776.0
Observed price2026-03-2374.7
Observed price2026-04-1077.5
Observed price2026-04-2174.7
Observed price2026-05-1480.6
Observed price2026-06-0178.9
Observed price2026-06-1282.3
Observed price2026-06-1879.5
Observed price2026-07-1183.9
Observed price2026-07-2381.3
Observed price2026-07-2889.0
Observed price2026-08-1587.4
Observed price2026-08-2191.1
Observed price2026-09-1389.1
Observed price2026-09-2187.1
Observed price2026-09-2587.8
Published advisor forecast2026-09-1888.3
Published advisor forecast2026-12-1885.6
Published advisor forecast2027-03-1886.5
Published advisor forecast2027-06-1883.0
Published advisor forecast2027-09-1884.7
Published advisor forecast2027-12-1886.4
Published advisor forecast2028-03-1887.2
Published advisor forecast2028-06-1889.0
Published advisor forecast2028-09-1889.9
Published advisor forecast2028-12-1891.6
Published advisor forecast2029-03-1892.6
Published advisor forecast2029-06-1893.5
Published advisor forecast2029-09-1895.4
Published advisor forecast2029-12-1896.3
Published advisor forecast2030-03-1897.3
Published advisor forecast2030-06-1899.2
Published advisor forecast2030-09-18100
Published advisor forecast2030-12-18101
Published advisor forecast2031-03-18103
Published advisor forecast2031-06-18104
Published advisor forecast2031-09-18105

2. Scenarios & Signals

Bull case

The decisive combination is legal relief arriving alongside proven volume. A vacate-and-remand from the Eleventh Circuit converts the $6 billion deposit into recoverable cash and erases the $14 billion tail, freeing repurchase capacity throttled since 2024. Sustained 4-5% unit case growth then validates the rather than straining it, and a 2028 easing cycle restores income-asset demand. Comparable compounds near 9% with the multiple intact, carrying shares well beyond $120.

Bear case

The trap springs when two ordinary things happen together: the volume comparison fails and yields stay high. A 2027 quarter showing 1-2% volume against 2026's 5%, with currency turning from a two-point tailwind into a headwind and divestitures subtracting reported revenue, reframes the story as decelerating. Income investors holding a 2.40% yield against 5% Treasuries reprice fast; a slide toward 20x costs roughly a fifth of the share price before growth cushions anything.

Current crowd narrative

The crowd treats Coca-Cola as 2026's safe harbour: up 29% year-to-date while the ten-year yield climbed to 5.00%, a volume surprise read as permanent, and fears declared resolved [5][6]. Sell-side anchors on $95-104 targets and the 64th consecutive dividend increase [9][21]. The settled assumption is that defensive scarcity justifies 26x indefinitely.

Alpha-gap assessment

The crowd modestly overestimates these shares. Two pieces of evidence pull opposite ways. Reported FY2025 of $5.30 billion understates true generation by roughly half, distorted by the $6 billion IRS deposit and the fairlife contingent payment — TTM is $14.30 billion, which argues underpricing [8]. Against that, roughly two-thirds of 2026's 29% advance came from rather than profit [5][6]. Cash quality is better than screens show; the price has already collected the reward.

Convergence catalyst

The Eleventh Circuit ruling, plausibly between Q4 2026 and 2027, is the cleanest trigger: it converts a $20 billion contingency into a number [16][17]. Q3 results in late October matter sooner, lapping World Cup activation without it. First observable sign of repricing: the slipping below 25x.

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