Morgan Stanley Upgrades PepsiCo to Overweight (PEP)
PepsiCo (NYSE: PEP) was upgraded by Morgan Stanley (NYSE: MS) from an “equal weight” rating to an “overweight” rating in a research note issued on Monday. The firm currently has a $77.00 price target on the stock.
A number of other analysts have also recently weighed in on PEP. Analysts at UBS AG (NYSE: UBS) raised their price target on shares of PepsiCo from $64.00 to $66.00 in a research note to investors on Sunday, April 29th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of PepsiCo in a research note to investors on Friday, April 27th. They now have a $70.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of PepsiCo in a research note to investors on Wednesday, March 7th. They now have a $65.00 price target on the stock.
Shares of PepsiCo traded down 0.38% during mid-day trading on Monday, hitting $66.37. PepsiCo has a one year low of $58.50 and a one year high of $71.89. The company has a market cap of $103.8 billion and a P/E ratio of 16.50.
PepsiCo last announced its earnings results on Thursday, April 26th. The company reported $0.69 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.02. PepsiCo’s revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that PepsiCo will post $1.21 earnings per share next quarter.
PepsiCo, Inc. (PepsiCo) is a global food, snack and beverage company. The Company’s brands include Quaker Oats, Tropicana, Gatorade, Lay’s, Pepsi, Walkers, Gamesa and Sabritas.