Shares of PepsiCo (PEP) Trade Higher on the Day Following CLSA Upgrade, Firm Raises Estimates
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Price: $142.08 --0%
Rating Summary:
15 Buy, 20 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
Rating Summary:
15 Buy, 20 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 25
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CLSA upgraded shares of PepsiCo (NYSE: PEP) from an Underperform rating to an Outperform rating as U.S. sales trends seem to be experiencing sustainable growth.
To reflect the firms forecast of higher sales, CLSA is raising its second quarter and 2011 EPS estimates by $0.01 and by $0.03 to $1.20 and $4.53.
An analyst at CLSA notes, "While these are minor changes, an in-line Q1 result was enough to drive PEP's stock higher, and we believe expectations remain low."
Shares of PEP are currently trading up $0.79 or 1.15 percent to $69.24.
To reflect the firms forecast of higher sales, CLSA is raising its second quarter and 2011 EPS estimates by $0.01 and by $0.03 to $1.20 and $4.53.
An analyst at CLSA notes, "While these are minor changes, an in-line Q1 result was enough to drive PEP's stock higher, and we believe expectations remain low."
Shares of PEP are currently trading up $0.79 or 1.15 percent to $69.24.
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