Coca-Cola (KO: sentiment, chart, options) may have surpassed analysts' earnings expectations in its second-quarter report, but the positive profit surprise hasn't won KO any new fans on Wall Street. Many analysts zeroed in on one disappointing metric the worldwide soda heavyweight reported that overall sales by volume increased just 3%, compared to growth of 5% to 6% during each of the previous 4 quarters. As a result, a trio of brokerage firms have weighed in with bearish commentary.

First, Goldman Sachs removed KO from its Americas conviction buy list, although the stock is still considered a "buy." Analyst Judy Hong also slashed her price target on the stock by $11 to $57, noting, "We now expect the drag from a weak US along with a tempered international backdrop to hold performance back."

Credit Suisse expressed a similar note of caution, with analyst Carlos Laboy downwardly revising his own price target from $68 to $60. The brokerage firm maintained its "buy" rating.

Today's activity comes on the heels of a similar move yesterday; S&P Equity Research repeated its "strong buy" opinion but dropped its price target by $4 to $62.

After shedding nearly 4% yesterday, KO is just fractionally lower this afternoon. The stock has been guided lower by its 10-week and 20-week moving averages since January. Now, the shares are trading about 32% below their average 12-month price target of $66.08, which raises the possibility that further price-target reductions could be on the horizon.