Coca-Cola (KO) is getting in on a viral TikTok trend with the release of a new drink that combines Sprite with Tea. The new offering from the beverage company is aptly named “Sprite+Tea” and it hit store shelves today. Consumers will be able to find the drink at stores across the U.S. and Canada through October.
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Coca-Cola notes that an intern research project was already developing a Sprite and tea combination when it saw the viral TikTok trend start to gain traction. The company said that this was a “gut check” that it was on the right track with the flavor combination. Coca-Cola continued to develop the new flavor of Sprite to ensure it matched customers’ expectations.
Combining Sprite and tea makes sense. It’s akin to a half-and-half, which blends tea and lemonade. Sprite’s lemon-lime flavor profile is already close to lemonade, so it makes sense the drink would combine well with sweet tea.
Sprite Continues to Gain Market Popularity
Consumer interest in Sprite has increased as Coca-Cola has experimented with more flavors. This resulted in the soda becoming the third most popular soft drink in the U.S. in 2024. It knocked out Pepsi’s (PEP) flagship drink for that position, and was surpassed by Keurig Dr Pepper’s (KDP) Dr. Pepper in second place and Coca-Cola in first. If Sprite can continue to gain market share, it could surpass Dr. Pepper. It held 8.03% of the U.S. market share, compared to Dr. Pepper’s 8.3%.
Is KO Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Coca-Cola is Moderate Buy, based on 16 Buy and one Hold ratings over the last three months. With that comes an average KO stock price target of $79.33, representing a potential 10.32% upside for the shares.
