Barclays has decided to maintain its Overweight rating of PepsiCo (NASDAQ:PEP) and lower its price target from $187.00 to $183.00.
Shares of PepsiCo are trading up 0.66% over the last 24 hours, at $170.12 per share.
A move to $183.00 would account for a 7.57% increase from the current share price.
About PepsiCo
PepsiCo is one of the largest food and beverage companies globally. It makes, markets, and sells a slew of brands across the beverage and snack categories, including Pepsi, Mountain Dew, Gatorade, Doritos, Lays, and Ruffles. The firm uses a largely integrated go-to-market model, though it does leverage third-party bottlers, contract manufacturers, and distributors in certain markets. In addition to company-owned trademarks, Pepsi manufactures and distributes other brands through partnerships and joint ventures with companies such as Starbucks. The firm segments its operations into five primary geographies, with North America (comprising Frito-Lay North America, Quaker Foods North America, and North America beverages) constituting around 60% of consolidated revenue.
About Analyst Ratings
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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
