Pepsico (PEP) PT Raised to $121 at Credit Suisse
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Price: $143.48 +0.99%
Rating Summary:
15 Buy, 20 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 20 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Credit Suisse raised its price target on Pepsico (NYSE: PEP) to $121.00 (from $115.00) while maintaining a Outperform rating after tweaking estimates higher.
Laurent Grandet is tweaking EPS estimates higher to $5.14 / $5.51 / $5.89 for FY17 / FY18 / FY19 owing to a change to our FX estimates (now only 2% headwind in FY17, down from 3%).
The firm also increases its P/E multiple by 1 turn to 22x due to higher group valuations and the slightly higher CY18 EPS.
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