PepsiCo Likely To Report Higher Q3 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

PepsiCo, Inc. (NASDAQ:PEP) is expected to release financial results for its third quarter 2023, before the opening bell on Oct. 10, 2023.

Analysts expect the company to post quarterly earnings at $2.15 per share, up from year-ago earnings of $1.97 per share. The company’s revenue might come in at $23.43 billion, compared to $21.97 billion in the year-ago period.

PepsiCo shares gained 0.7% to close at $161.36 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• Wells Fargo analyst Chris Carey maintained an Equal-Weight rating and cut the price target from $196 to $170 on Oct. 9, 2023. This analyst has an accuracy rate of 64%.
• Barclays analyst Lauren Lieberman maintained an Overweight rating and slashed the price target from $198 to $179 on Oct. 4, 2023. This analyst has an accuracy rate of 60%.
• Morgan Stanley analyst Dara Mohsenian downgraded the stock from Overweight to Equal-Weight with a price target of $210 on July 17, 2023. This analyst has an accuracy rate of 75%.
• Deutsche Bank analyst Steve Powers maintained a Hold rating and boosted the price target from $193 to $195 on July 14, 2023. This analyst has an accuracy rate of 74%.
• Argus Research analyst John Staszak maintained a Buy rating and increased the price target from $206 to $212 on July 14, 2023. This analyst has an accuracy rate of 67%.

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