UPDATE: Morgan Stanley Reiterates On PepsiCo Following Disappointing But Conservative 2014 Guidance
In a report published Friday, Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating on PepsiCo (NYSE: PEP), but removed the $95.00 price target.
In the report, Morgan Stanley noted, “PEP adj. 4Q EPS of $1.05 was above MS/consensus at $1.00/$1.01, but more than all of the upside was below the profit line, with operating profit 3% below consensus. Organic sales growth of +4.1% was solid in a tough environment, but operating profit was 3% below consensus on +75 bps of higher SG&A as a % of sales, partially offset by 35 bps of GM upside vs. consensus.”
PepsiCo closed on Friday at $79.69.
Latest Ratings for PEP
|Oct 2014||Deutsche Bank||Maintains||Buy|
|Oct 2014||Credit Suisse||Maintains||Neutral|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.