Susquehanna analyst, Pablo Zuanic, reiterated his Positive rating on shares of Pepsico (NASDAQ: PEP) and raised his price target to $132 from $128 after meeting with senior management at the company headquarters. The analyst noted that pricing appears to be "coming through", which bodes well for the back half.

The analyst stated "while seemingly there has been a change in tone regarding potential changes to the NAB business model (refranchising, a hybrid version) between the 1Q and 2Q calls, our interpretation is that the focus is on fixing the underlying business first before evaluating potential changes to the model (if any)".

For an analyst ratings summary and ratings history on Pepsico click here. For more ratings news on Pepsico click here.

Shares of Pepsico closed at $112.89 yesterday.