Why PepsiCo's Stock Is Trading Higher Today

PepsiCo PEP is trading higher on Monday.

Morgan Stanley upgraded the stock from Equal-Weight to Overweight, seeing an increase in demand as consumers are snacking more at home.

Morgan Stanley lowered the stock's price target to $132 and says it sees, “Pepsi's snacks business as likely to benefit from consumers snacking more at home and Pepsi's beverage skew to more nutritional non-CSD products.”

Pepsi shares were trading up 5.88% at $110.04 on Monday. The stock has a 52-week range between $147.20 and $101.42.

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