Credit Suisse Starts Pepsico (PEP) at Outperform

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."

For an analyst ratings summary and ratings history on Pepsico click here. For more ratings news on Pepsico click here.

Shares of Pepsico closed at $105.48 yesterday.

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