BMO Capital Reiterates Outperform on Pepsi (PEP) Following Solid 3Q
- AT&T (T) Agrees to Acquire Time Warner (TWX) for More than $80 Billion - WSJ
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
- AT&T (T) in Advanced Talks to Acquire Time Warner (TWX) - DJ
- Rockwell Automation (ROK) Said to Attract Takeover Interest from Schneider Electric - Source
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
BMO Capital reiterated an Outperform rating on Pepsico (NYSE: PEP), and raised the price target to $120.00 (from $116.00), following the company's 3Q earnings report. PEP exceeded or met consensus estimates for the 27th consecutive quarter. EPS was driven by solid organic sales growth, modest EBIT margin expansion, and lower tax rate.
Analyst Amit Sharma commented, "PEP reported 3Q16 core EPS of $1.40, $0.08 ahead of our and consensus estimates, as solid revenue growth, particularly in FLNA/ NAB, drove favorable operating leverage. PEP's earnings momentum is poised to continue, reflecting broad-based sales growth, further SG&A leverage, and greater visibility to cost savings. PEP raised 2016 EPS outlook from $4.71 to $4.78."
Shares of Pepsico closed at $107.76 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Imperial Capital Raises Price Target on Proofpoint (PFPT) Following Strong 3Q Results
- Jefferies Cuts Price Target on Reliance Steel (RS) Following 3Q EPS Miss and Guidance
- PayPal (PYPL) PT Raised to $45 at Oppenheimer
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!