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Pepsico (PEP) PT Raised to $185 at Cowen

July 13, 2021 6:04 PM EDT
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Price: $165.11 +0.68%

Rating Summary:
    14 Buy, 18 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 28 | Down: 33 | New: 12
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Cowen analyst Vivien Azer raised the price target on Pepsico (NASDAQ: PEP) to $185.00 (from $165.00) while maintaining an Outperform rating.

The analyst commented, "PEP delivered a robust beat, reporting $1.72 in EPS (vs. the Street's $1.53). Strength was broad-based in the quarter, led by strong DD revenue growth for NAB, coupled with meaningful margin expansion. Management raises full year rev growth to +6% and core CC EPS to +11%. The company also announced new restructuring initiatives for $1 bn in annual cost savings through 2026. Maintain Outperform."



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