Credit Suisse Starts Pepsico (PEP) at Outperform
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Credit Suisse initiates coverage on Pepsico (NYSE: PEP) with a Outperform rating and a price target of $121.00.
Analyst Laurent Grandet commented, "We are initiating coverage of PepsiCo with an Outperform rating and a $121 target price. Our sales and EPS estimates are generally in-line with the consensus, but we think the market is not giving the company due credit for the marketing and financial strength of the Frito-Lay franchise and the rebalancing of the US Beverages portfolio towards faster growing noncarbonated beverages."
Shares of Pepsico closed at $105.48 yesterday.
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