UBS Maintains a 'Buy' on PepsiCo (PEP); Raising 2011/2012 Estimates and Price Target
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Price: $140.13 --0%
Rating Summary:
15 Buy, 20 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
Rating Summary:
15 Buy, 20 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
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UBS maintains a 'Buy' on PepsiCo (NYSE: PEP), raises PT from $72 to $76.
UBS analyst says, "Following the 1Q’11 Earnings, we revisited our 2011 numbers. Pepsi delivered EPS in-line with our expectations, but did so with less repurchases than we expected. For the remainder of the year we anticipate accelerated stock repos. Additionally, the Company now expects a 2011 FX benefit to add 1-2 percentage points to currency neutral EPS growth guidance of 7-8%. We are now forecasting EPS of $4.50 and $4.92 in 2011 and 2012, respectively. Our FX assumption added $0.04 to our 2011 estimate."
"...While we are taking our 2011 number up, we are lowering our 2Q’11 EPS estimate from $1.24 to $1.22. Additionally, if Pepsi buys the remaining stake of WBD, the deduction of net income attributable to noncontrolling interests will be gone."
For more ratings news on PepsiCo click here and for the rating history of PepsiCo click here.
Shares of PepsiCo closed at $67.93 yesterday.
UBS analyst says, "Following the 1Q’11 Earnings, we revisited our 2011 numbers. Pepsi delivered EPS in-line with our expectations, but did so with less repurchases than we expected. For the remainder of the year we anticipate accelerated stock repos. Additionally, the Company now expects a 2011 FX benefit to add 1-2 percentage points to currency neutral EPS growth guidance of 7-8%. We are now forecasting EPS of $4.50 and $4.92 in 2011 and 2012, respectively. Our FX assumption added $0.04 to our 2011 estimate."
"...While we are taking our 2011 number up, we are lowering our 2Q’11 EPS estimate from $1.24 to $1.22. Additionally, if Pepsi buys the remaining stake of WBD, the deduction of net income attributable to noncontrolling interests will be gone."
For more ratings news on PepsiCo click here and for the rating history of PepsiCo click here.
Shares of PepsiCo closed at $67.93 yesterday.
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