Coca-Cola (KO) is likely to report solid Q2 results, keep its full-year guidance and reach the upper end of its sales and earnings targets, UBS said in a note emailed Monday.

UBS expects Coca-Cola to report earnings of $0.94 per share on July 28, a cent above the Visible Alpha consensus estimate, while organic revenue is anticipated to rise 3.6%, slightly above the 3.4% consensus estimate, supported by a 0.5% increase in sales volume and a 3.1% gain from pricing and product mix.

Coca-Cola will likely keep its full-year forecast for organic sales growth of 4% to 5% and earnings growth of 8% to 9%, with both measures now likely to reach the upper end of those ranges, UBS said, adding that it expects full-year organic sales to rise 4.8% and earnings per share to grow 9%, compared with the market forecast of 8.9% earnings growth.

Strong sales growth and better earnings estimates could give Coca-Cola more room to outperform its rivals, although recent share gains may limit the stock's immediate rise after the results, according to the note.

UBS maintained its buy rating and $98 price target for Coca-Cola.

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