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- Guggenheim analyst Laurent Grandet has raised PepsiCo Inc PEP price target to $175 from $171 (implying an Upside of 13.92%) and keeps a Buy rating on the shares.
- The analyst said the core business is accelerating as Pepsi takes share from Coca-Cola Co KO. He sees the divestiture of the "low-growth, low-margin" Tropicana juice business and expansion in the energy category driving growth and margin upside.
- Grandet sees potential additional earnings upside this year as he expects "rationality" to continue in the U.S. carbonated category.
- Price Action: PEP shares are trading higher by 0.58% at $154.5 in premarket on the last check Tuesday.
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