PepsiCo. Inc. (NYSE:PEP) is encroaching on Coca-Cola Co.'s (NYSE:KO) turf at McDonald's Corp. (NYSE:MCD).

Some McDonald's restaurants are selling Pepsi's Gatorade, Propel Fitness Water, Lipton Iced Tea, Tropicana orange juice, and Mountain Dew, according to the Associated Press. McDonald's had sold Coke's products exclusively since 1955, the AP said.

This is obviously a huge win for Pepsi. Demand for non-carbonated beverages is rising at a much faster pace than soda. It's the latest front in the cola wars. This will certainly help Pepsi over the long term.

Investors, though, continue to bet on Coke. Its shares have jumped 12 percent this year compared with 5 percent for Pepsi. Going forward, it's a different story.

Fourteen out of 16 analysts rate Pepsi shares either a buy or a strong buy. Two rate it a hold. Their median price target is $73 about $10 above were it currently trades.

Analysts are expecting on average for Coke to hit $53 in the next year, about $5 above its current price. Twelve out of 17 analysts rate Coke either a buy or strong buy and five consider it a hold.