Coca-Cola posted a strong third quarter, with organic revenue up 7%, comparable EPS up 11% to $0.91, and a raised full-year outlook. Unit case volume rose 5%, led by India, China, Mexico and Brazil, while price/mix added just 1%. The author notes that about 3 points of the 11% EPS growth come from favorable currency and that a lower tax rate also helps, so some of this year's gains may not repeat in 2027, when the pending sale of African bottling operations is expected to be about a 2-point headwind. At around $92, shares trade at roughly 28 times adjusted earnings; the author would not invest more at this price and would like to see shares near $80.
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