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UPDATE: Stifel Upgrades PepsiCo On Positive Risk/Reward

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In a report published Thursday, Stifel analyst Mark Swartzberg upgraded the rating on PepsiCo (NYSE: PEP) from Hold to Buy, and named a $106.00 price target.

In the report, Stifel noted, “We upgrade to Buy from Hold, seeing a positive risk/reward in the shares. Multiples are off highs and in line with historical norms, yet we believe the company is entering a period of positive earnings revisions, reflecting stabilizing Americas Beverages trends, abating input pressures, increasing emphasis on productivity, and increasing effectiveness innovating. We also believe the shares embed very little value for Trian's influence, even though Trian could ultimately gain a seat on PepsiCo's board.”

PepsiCo closed on Wednesday at $90.82.

Latest Ratings for PEP

DateFirmActionFromTo
Sep 2019MaintainsOverweight
Sep 2019MaintainsUnderperform
Jul 2019Initiates Coverage OnOverweight

View More Analyst Ratings for PEP
View the Latest Analyst Ratings

Posted-In: Mark Swartzberg StifelAnalyst Color Upgrades Analyst Ratings

 

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