Argus maintains its Buy rating on the company and raised it price target to $124 from $116. It lifted its 2016 EPS estimate to $4.80 from $4.78 and 2017 EPS estimate to $5.20 from $5.16.
The analysts forecast the company to generate solid growth despite weak consumer spending. "We expect strong results from Frito-Lay North America, growth in health and wellness products, and price increases to translate to positive earnings surprises over the next two years," wrote Argus.
Did you like this article? Could it have been improved? Please email feedback@benzinga.com to let us know!© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.