Barclays Maintains an 'Overweight' on Pepsico (PEP); A Purpose to the Performance

Barclays maintains an 'Overweight' on Pepsico (NYSE: PEP) price target of $73.00.

Barclays analyst says, "We are lowering our FY11 EPS estimate to $4.42 from $4.50 and our FY12 EPS estimate to $4.75 from $4.95. Our reduced estimates stem from lowered profit expectations within PepsiCo Americas Beverages (PAB) and continued significant investments in media and A&P (media more so than A&P). Portfolio reinvestment and turnarounds take time and, while disappointed with a lower 2H11/near-term growth profile, we are encouraged that PepsiCo is sticking to its investments around the world."

For more ratings news on Pepsico click here and for the rating history of Pepsico click here.

Shares of Pepsico closed at $66.17 yesterday.

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