BEVERAGES / FOOD & HPC : Best (or Worst) of Both Worlds: US Industry Growth and Market Share Screen | Positive for CELH (+), KO (+), CL (+); Negative for TAP (-), CLX (=)

研报英文原文证据摘录

BEVERAGES / FOOD & HPC : Best (or Worst) of Both Worlds: US Industry Growth and Market Share Screen | Positive for CELH (+), KO (+), CL (+); Negative for TAP (-), CLX (=)

EQUITIES

BEVERAGES

FOOD & HPC

BEVERAGES / FOOD & HPC

FLASH NOTE

Best (or Worst) of Both Worlds: US Industry Growth and Market Share

Screen | Positive for CELH (+), KO (+), CL (+); Negative for TAP (-), CLX (=)

11 JUNE 2026 Sector Research Report Production time: 12:40* (London time)

Research Analyst & Publishing Entities

Kevin Grundy BNP Paribas Securities Corp (1) (+1) 212 471 8129 kevin.grundy@us.bnpparibas.com

We screen US staples cos. into quadrants based on US mix-weighted industry growth and market share trends in the

latest 12-week Nielsen data through May 16 (Figure 1 left). Our analysis generally supports our (+) calls on CELH, KO,

and CL (screen shows both strong industry growth and share gains), and (-) calls on TAP and STZ (challenged industry

growth for both and weak share performance in case of TAP). While imperfect, our screen is meant as a tool for investors

to be considered alongside other key considerations: a) we compare quadrants based on US data vs. relative valuations

(Figure 1 right); b) our screen does not account for sequential market share dynamics (pertinent for CELH debate), c)

intl. growth (very pertinent for multi-nationals), and/or d) other factors driving the market’s assessment of LT growth /

risk / returns for stocks in our screen. See our regularly published US Industry Dashboard for historical detail.

Figure 1. In our US Staples Screen (left) that charts mix-weighted Industry Growth (y-axis) against % of US

portfolio holding or gaining share (x-axis), CELH screens best in our coverage, followed by KO, CL, and CHD.

TAP screens worst, followed by CLX.