On Oct 10, major Wall Street analysts update their ratings for $PepsiCo (PEP.US)$, with price targets ranging from $176 to $200.
Morgan Stanley analyst Dara Mohsenian maintains with a hold rating, and maintains the target price at $185.
BofA Securities analyst Bryan Spillane maintains with a buy rating, and maintains the target price at $185.
Barclays analyst Lauren Lieberman maintains with a buy rating, and adjusts the target price from $186 to $183.
Deutsche Bank analyst Stephen Powers maintains with a hold rating, and adjusts the target price from $180 to $179.
Evercore analyst Robert Ottenstein maintains with a hold rating, and maintains the target price at $180.
Furthermore, according to the comprehensive report, the opinions of $PepsiCo (PEP.US)$'s main analysts recently are as follows:
The overarching perspective on PepsiCo remains firmly positive, with expectations still set for a 7% earnings growth by 2024, alongside a profit performance next year that may modestly trail the anticipated trajectory.
Exiting Q3, PepsiCo appears to be set up to conclude fiscal 2024 with near-term earnings 'firmly intact,' though the sales momentum is now more subdued than earlier anticipated. It is suggested that the 'bad news' appears to be accounted for and the stock may offer a 'free option' if U.S. consumption data responds positively to further demand-stimulating efforts from the company throughout the remainder of fiscal 2024.
Following PepsiCo's Q3 report, there was an update to the company's model. The stock's post-report performance exceeded expectations, driven by the company's confirmation of its earnings growth guidance and a reversal of previous market skepticism.
The perspective on PepsiCo as a leading consumer packaged goods company remains intact, yet there is a belief that the 'aggressive pricing' strategy in its three largest U.S. categories may have pushed the value proposition too far, potentially impacting the company's short-term pricing leverage. Consequently, expectations for PepsiCo's organic growth have been moderated to 1.9% for fiscal 2024 and 3% for fiscal 2025, which falls short of the company's projected growth rate of 4%-6%.
Here are the latest investment ratings and price targets for $PepsiCo (PEP.US)$ from 8 analysts:
Note:
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