LightView AI Stock Analysis Summary
Nov 12, Issued 2026 (Thu) · As of Nov 10, 2026 close · 1/2Coca-Cola The Coca-Cola Company · KO · NYSE
Q3 comparable EPS up 11% and a raised outlook confirmed earnings growth, but a 27.7x forward P/E and 5.6% EPS growth expected next year limit the upside
Overall VerdictHOLDBull 4 · Bear 3 · Deferred 0
Price at Issue
$96.91
Nov 10, 2026 close · +0.9%
External Average Target Price
$98.43
+1.6% · 23 analysts
52-Week Low · High
$67.27 ~ $97.39
vs. high −0.5%
Next Earnings
TBD
Q4 2026 earnings
014 Key Data Points
Full-year comparable EPS growth outlook raised to 11% or moreAnnounced Oct 27 · prior 9–10% · organic revenue growth of at least 5% · free cash flow of at least $13.0B (prior about $12.4B)
Five price target raises, no cutsOct 28: UBS $106, TD Cowen $104, Citi $103, JPMorgan $98, Freedom $89
Q3 volume +5%, Zero Sugar +16%Led by India, China, Mexico and Brazil · price/mix added only 1%, so volume drove the growth
Forward P/E 27.7x, PEG 4.9Peer median 20.0x · FY27 EPS growth expected at 5.6%, down from about 10% this year
02Research Team Debate — 6 Issues
| Raised outlook×2 | Bull | Judged for the Bull side. Even after removing about 3pp of currency from the at-least-11% outlook, growth is about 8% or more, and next year's 5.6% already absorbs about 2pp from the sale, so the Bull view that earnings growth continues carries more weight. Currency turning into a slight headwind next year remains, as the Bear notes. |
| Valuation | Bear | Judged for the Bear side. On a growth-adjusted basis a PEG of 4.9 is high for a stretch where earnings growth halves, and the Bear's 1.4 times the peer median is the more direct measure. The Bull's margin advantage is real but already priced in. |
| Africa bottler sale | Bull | Judged for the Bull side. The earnings effect is about a quarter of the revenue effect (about 2% of EPS vs 8% of revenue), so the Bull's point that the damage is limited holds. A delay in regulatory approval could still disturb the outlook. |
| IRS tax case | Bear | Judged for the Bear side. The Bear's point that up to $14B, excluded from guidance, matches a full year of free cash flow with the ruling date open is the stronger one. The Bull's sizing at 3.4% of market cap eases the burden but does not remove it. Case figures come from external reports (Bloomberg Law); the company filings were not read. |
| Five price target raises | Bear | Judged for the Bear side. The direction of targets is up, but the 1.6% gap between the $98.43 average and the close is the Bear's more direct measure that further upside has little support. The raises are already in the price. |
| Volume growth | Bull | Judged for the Bull side. Total volume of +5% together with confirmed value-share gains supports the Bull view that emerging markets are filling the North American gap. The risk that the shipment-timing benefit reverses in Q4 remains, as the Bear points out. |
The call is HOLD. The raised outlook and 5% volume growth confirmed earnings growth, but a 27.7x forward P/E, a PEG of 4.9 and just 1.6% average target upside kept the gap to one vote. The call reopens if the 2027 outlook at Q4 results is at or above the 5.6% FY27 EPS growth consensus.
03Conditions That Change the Verdict
▲ Upgrade Conditions
- Q4 2026 results and 2027 outlookDate TBD · 2027 EPS growth guidance at or above the 5.6% FY27 consensus
- Holding the 20-day averageThe close stays above the 20-day average of $93.93
- 52-week high breakoutThe close moves above the 52-week high of $97.39
▼ Downgrade Conditions
- Q4 2026 results and 2027 outlookDate TBD · 2027 EPS growth guidance falls short of 5.6%
- Support breakThe close falls below the Supertrend level of $91.04
- IRS appeal lossThe ruling goes against Coca-Cola and up to about $14B in extra payments becomes real
LightView AI Stock Analysis Summary
Nov 12, Issued 2026 (Thu) · As of Nov 10, 2026 close · 2/204Quarterly Results Unit: $B
| Q3 2025 | Q4 | Q1 2026 | Q2 | Q3 |
|---|
| Revenue | 12.5 | 11.8 | 12.5 | 13.4 | 13.4 |
| Operating Income | 4 | 2.9 | 4.4 | 4.7 | 4.5 |
| Net Income | 3.7 | 2.3 | 3.9 | 4.4 | 4 |
| Operating Margin | 32.2% | 24.2% | 35.1% | 35.1% | 33.4% |
Operating margin33.4%Year ago 32.2%
Net margin30.0%Year ago 29.7%
Gross margin (Yahoo basis)63.2%Year ago 61.5%
Free cash flow margin34.0%Year ago 36.6%
05P/E trend
20.0x
Peer median (forward)
06Street Opinions
Buy 20Hold 3Sell 1Avg $98.43 · High $106.00 · Low $80.00
Freedom Broker89Target raised
UBS106Target raised
Citigroup103Target raised
JPMorgan98Target raised
07Financial Strength
Cash and short-term investments (9/30)$16.60B$15.78B → +5.2%
Total debt (9/30)$41.62B$47.42B → −12.2%
Equity (9/30)$37.37B$31.25B → +19.6%
Shares outstanding (9/30)4.30B shares4.30B shares → 0.0%
08Recent News
- 11/6 Parent of India bottler HCCB files draft IPO papers (Nov 6–7 per reports)Filed with India's SEBI · an offer for sale cutting the Coca-Cola side's stake from about 60% to 45%, no fresh capital · filing date is Nov 6 or 7 depending on the report · based on reports (Just Drinks, Indian media), filing not read · figures below are the Nov 6 close
- 11/5 Officer Nancy Quan sells $1.97MForm 4 summary (Yahoo) · sold 20,585 shares at $95.62 alongside an option exercise · figures below are the Nov 5 close
- 11/2 Officer Beatriz Perez sells $6.41MForm 4 summary (Yahoo) · sold 67,548 shares at $94.84–$95.02 alongside an option exercise · figures below are the Nov 2 close
09Upcoming Events
- Nov 13 (Fri) · Weekly options expiryMax pain $95 · open interest put/call 0.57
- Nov 20 (Fri) · Monthly options expiryMax pain $90 · open interest put/call 0.55
- During Q4 · Africa bottling sale expected to closeCompany assumption · subject to regulatory approval
10Key Risks
- High multiple against growth (forward P/E 27.7x vs FY27 EPS +5.6%)Impact Medium · Likelihood High · Watch Q4 results
- Up to about $14B in extra payments if the IRS appeal is lostImpact Medium · Likelihood High · Watch Ruling date unknown
- Africa bottler sale effect (2027 revenue about −8%, EPS about −2%)Impact High · Likelihood Medium · Watch Q4 results
11Checkpoints
- ★★★ Q4 2026 results and 2027 outlookThe date is not set. Watch whether 2027 EPS growth guidance is at or above the 5.6% FY27 consensus and how much currency and divestiture headwinds it includes.
- ★★★ IRS appeal rulingTiming is not set. Watch how up to about $14B in extra payments would weigh on cash and short-term investments of $16.60B.
- ★★☆ Target trendFive raises came after Oct 28. Watch whether the $98.43 average rises further and widens the upside above the price.