Coca-Cola shares reached an all-time intraday high of $90.92 on Thursday, extending a 28.6% gain over the past 12 months as the beverage giant reported volume and earnings growth across key markets.
The stock last traded at $90.97, roughly 1% below its 52-week peak, and valued the company at $389.9 billion. Analysts at TD Cowen upgraded their price target to $100 from $90, maintaining a Buy rating, while Piper Sandler lifted its target to $95, citing the company’s execution and consumer-focused strategies as drivers of outperformance relative to peers.
Volume growth accelerated in Western Europe, where soft drink sales rose 6.5% over the four weeks ending July 12, according to Bernstein analysis of Nielsen data. Comparable earnings per share climbed 11% in the second quarter, while unit volume increased 5%, the company reported.
Total store sales, tracked by Goldman Sachs using NielsenIQ data, rose 1% for the four weeks ending August 8, reflecting broad-based demand across retail channels. Coca-Cola also marked its 55th consecutive year of dividend increases, a streak highlighted by InvestingPro alongside a note that the stock appears overvalued relative to its fair value based on the platform’s metrics.
The record share price follows a period of steady operational improvement and analyst confidence, with multiple firms revising upward their valuation assumptions for the consumer staples giant.
