Two analysts like Coca-Cola and PepsiCo even though the stocks are trading at near-record highs.

Stephen Powers, UBS household products analyst, told CNBC's " Squawk on the Street " on Tuesday that Coke and Pepsi have good fundamental trends, and foreign exchange headwinds are easing. As the FX rolls off, earnings growth will accelerate," said Faucher.

When it comes to potential headwinds of the introduction of soda taxes and reduced consumption of soft drinks, both analysts agreed that maintaining a diversified portfolio of businesses will be the key to remaining competitive. As you look across the portfolio, there's great margin opportunities as they realize those revenues and push on the cost savings that we talked about earlier," said Powers.

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Of the two companies, both analysts said Pepsi's portfolio is better diversified, while Coke still has some work to do. Pepsi has a much better developed non-[carbonated] portfolio. You could see Coke get more active there," said Faucher. The cash flow should get better.

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How to Buy Coca-Cola Stock

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Register Log In Profile Email Preferences PRO Sign Out. Consumer Retail Autos Food and Beverage Restaurants Fashion Goods Retail Report. It's time to buy Coke and Pepsi stocks: Analysts Christine Wang christiiineeee.

Coca-Cola is our favorite mega-cap idea. Both analysts spoke a day after the stocks hit all-time intraday highs.

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