Coca-Cola Nears All-Time Highs Into July 28 Earnings; fairlife Hit by Ransomware

Coca-Cola reports second-quarter results on July 28 before the open, with analysts expecting earnings of $0.92 per share, up 5.8% from a year ago, on revenue of about $13.05 billion. The company has beaten bottom-line estimates in each of the last four quarters and trades near its 52-week high after an 18.7% gain over the past year.

Wall Street is leaning bullish into the print: 19 of 25 covering analysts rate the stock Strong Buy, and recent weeks brought a wave of target hikes — UBS to $98, Citigroup to $97 and Bank of America to $95.

One wrinkle: the company's dairy subsidiary fairlife detected unauthorized access to part of its systems in a ransomware attack. Coca-Cola said product quality and safety were not affected, though U.S. fairlife production has been temporarily suspended.