Jefferies Backs Coca‑Cola on fairlife as 2026 Growth Driver

The firm expects the protein brand to add more than two points to North American organic sales this year.

Overview

Jefferies says Coca‑Cola’s fairlife protein line will get a 25% supply boost in 2026, which should open convenience store and food‑service distribution.
The bank forecasts fairlife will contribute over 2 percentage points to North American organic sales in 2026, helping Coca‑Cola reach its 4%–6% growth goal.
As of March 24, 2026, about 80% of analysts rated KO positively, with a roughly $86 consensus target that implies near 15% upside from recent levels.
Morgan Stanley kept Coca‑Cola as a top pick with an $87 target, and Bank of America reiterated a Buy at $88, citing demand strength and fairlife’s expansion.
KO trades in the mid‑$70s after a recent pullback, while long‑term income appeal remains strong with Berkshire Hathaway’s large stake and a 64‑year dividend‑increase streak.