The Coca-Cola Co. has had its share coverage upped.

Citigroup said today (11 October) that it was increasing its price target for the drinks giant to US$67 per share, from its previous target of $60.

The bank said that Coca-Cola should report above consensus earnings results for its third quarter and beyond, driven primarily by its turnaround in Japan.

Citigroup reiterated its 'buy' rating on the stock, while lifting its EPS estimate for Coca-Cola's third quarter to $0.69 from $0.67.

The company will issue its third quarter results next Wednesday (17 October).