Coca-Cola's 9.2% Fair-Value Upside Exposes PepsiCo's Valuation Gap

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Analyst David McMillan highlights PepsiCo's capital-intensive, diversified operations versus Coca-Cola's capital-light, brand-focused model with higher margins and dividend growth potential. The dividend discount model pegs Coca-Cola as 9.2% undervalued to fair value, indicating PepsiCo lacks this valuation upside.

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