UPDATE: Morgan Stanley Upgrades PepsiCo to Overweight; Attractive Risk/Reward

Morgan Stanley upgrades PepsiCo (NYSE: PEP) from Equal-weight to Overweight on a risk reward that is more attractive and establishes a price target of $77.

Morgan Stanley comments, "We view PEP as a win-win situation. Either higher marketing pays off (vs. skeptical MS/market expectations) and the stock outperforms, or continued fundamental struggles may lead to more drastic action, including management/strategic changes, which could unlock shareholder value."

PEP closed at $65.90 on Friday.

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Tags: Morgan Stanley

Posted in: Analyst Color, Upgrades, Price Target, Pre-Market Outlook, Analyst Ratings

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