PepsiCo Nudges Higher After UBS Raises Price Target By Investing.com
By Dhirendra Tripathi Investing.com – PepsiCo (NASDAQ:PEP) rose nearly 1% Wednesday, pushed higher by an upgrade from UBS analyst Sean King. Rating the stock a buy, King raised his price target to $165. That is 14% higher than his previous estimate and 12% higher than the current price. "We believe PepsiCo is only at the mid-point of an investment cycle that will yield a sustainable improvement to top and bottom line growth,” King wrote in his note. Investments in beverage margins and global snacking scale support our above street outlook for 2021-23 estimated sales growth of...
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