From Financial Modeling Prep: 2024-07-08 18:07:00

BofA Securities analysts lowered PepsiCo’s price target to $190 from $210, maintaining a Buy rating. The food and beverage industry faces weak demand, highlighted by General Mills missing sales targets. PepsiCo’s snacks and beverages volumes are underperforming, potentially leading to a choice between meeting earnings targets or cutting costs excessively. EPS estimates for 2024 and 2025 were reduced, with the price target adjusted to reflect current market conditions. Despite this, the Buy rating is reiterated for PepsiCo’s stable long-term earnings power.



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