Goldman Sachs Reiterates Conviction Buy Rating on Pepsico (PEP) Following 'Upbeat' CAGNY Presentation

Goldman Sachs analyst Bonnie Herzog reiterated a Conviction Buy rating and $180.00 price target on Pepsico (NASDAQ: PEP) after the company's "upbeat" CAGNY presentation which highlighted the company's agility and strong execution.

The analyst commented, "We attended PEP's virtual presentation at CAGNY today, in which Chairman & CEO Ramon Laguarta provided an upbeat assessment about PEP's l.t. growth opportunities on both the top & bottom line. Today's presentation reinforces our confidence in PEP's 'right to win' with its advantaged operating position relative to peers and strong brand equity. PEP remains very well positioned given its strong brand portfolio (esp. Frito Lay) and long-term growth opportunities in Beverages that gives us confidence that PEP should be able to deliver sustainable average annual +MSD organic sales growth and +HSD FX-neutral EPS growth in the coming years."

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 $168.35 yesterday.

You May Also Be Interested In

• T1 Energy Inc. (TE) PT Raised to $9 at BTIG
• Circle Internet Group (CRCL) PT Raised to $87 at TD Cowen
• On Holding AG (ONON) PT Lowered to $73 at UBS on Short-Term Industry Dynamics