Consumer SpendingConcerns about the macro backdrop, such as weakening consumer confidence and uncertain jobs outlook, could lead to some pressure on discretionary beverage spending.
Financial PerformanceMuted 2H24 outlook with lower comps expected due to less pricing contribution, tougher comparisons, and anticipated negative impacts from increased discounting.
Investor SentimentShares are indicated much higher, leading to a neutral rating while waiting for a better entry point.