PEP), Dr Pepper Snapple ( DPS), and National Beverage ( FIZZ) in the CSD market globally. Coca-Cola is also benefiting from greater sales volumes from key emerging markets like India and China. We believe integrating the bottlers business into its own business and leveraging its strong brand image in carbonated soft drink (CSD) market, Coca-Cola will be able to increase its revenues from national and international operations. While we expect Coca-Cola's average revenue from per case of coke sold internationally will increase slowly to $1.40 by the end of Trefis forecast period, Trefis members predict a higher revenue level of close to $2, representing an upside of 6% to KO stock. We currently have a Trefis price estimate of $60.54 for Coca Cola's stock, about 4% below the current market price of $63.04. Soft drinks manufacturers are realizing the importance of having their in-house bottling business. Coca-Cola's integration of the North American operations of bottler Coca-Cola Enterprises is a step in the right direction. The company expects to save at least $350 million per year, phased in over the next four years, as stated by Coca-Cola in its third-quarter 2010 earnings results.