On July 17, Coca-Cola rose 3.01% in regular trading, trading at $84.93/share, with turnover of $1.107 billion. The rally was driven by a wave of target price upgrades from major Wall Street investment banks over the past week.

UBS raised its target price on July 16 from $92 to $98. Citi on July 14 significantly lifted its target from $91 to $97 while maintaining a Buy rating. Jefferies adjusted its target from $90 to $95, and Bank of America Global Research also raised its target from $90 to $95. According to FactSet, Coca-Cola carries an average analyst rating of Overweight with a mean target price of $88.38, implying further upside from current levels.

Within the Soft Drinks sector, gains were broadly distributed. Pepsi rose 3.01%, Keurig Dr Pepper gained 3.73%, Monster Beverage advanced 2.32%, and Coca-Cola Europacific added 1.64%. The company is scheduled to report Q2 earnings on July 28, with consensus EPS estimates at $0.92.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)