Coca-Cola Europacific Partners (CCEP) is likely to post a Q3 organic sales beat of 5.4% on continued growth momentum in Europe and the Australia, Pacific, and Southeast Asia markets, UBS said in a Friday research report.

Nielsen carbonated soft drinks trends improved since quarter-to-date through mid-September on favorable weather trends, according to the note. The company is due to report Q3 results on Nov. 3.

The potential acceleration of Europe volumes in Q3 is further supported by world cup activations and robust commercial execution, while APS region volumes could grow sequentially, primarily driven by the Philippines, which is lapping prior year weather-related headwinds, analysts wrote.

The brokerage said it reiterated its neutral rating on the stock and price target of $107 per share.

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