Same here. KO's brand recognition is second to none. As a pure beverage play, it has and will be around for some time. PEP has now left the arena as a pure beverage play with its Frito lay and other consumer snack goods. Both are outstanding companies battling it out by investing heavily in foreign markets and new product development. I can see why The Street is keen on KO.
I like KO's response to health issues by moving more into flavored water areas, and investing in orange groves in Florida for their orange juice sector amongst other things. Yes, we are still effected by commodity prices but you have to remember that a company such as KO or PEP do not just haphazardly survive but have long term strategic plans. As Mr. Buffet says, best way to learn is from mistakes is to explore what made a company fail.
Overall, both companies are prospering and will continue to do so. Even more so, there is room to grow in this area. Just ask the folks at Soda, Starbucks, and Dr. Pepper. I am long on KO and I prefer to drink Coke Zero as my favorite soda beverage. I like the fact that I can take my soda with me and pick up one anywhere I go. Unlike Soda where I have prepare my drink just to save a few pennies. Makes me think of those off brand sodas at the supermarket that try to be like KO or PEP but fall short on the taste quality of both beverages.