PepsiCo forecasts 2024 revenue growth of 4%, below estimates
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Deutsche Bank Cautious on Pepsico (PEP), 'Waiting Game'
February 12, 2024 5:21 AM ESTDeutsche Bank analyst Steve Powers reiterated a Hold rating and $184.00 price target on Pepsico (NASDAQ: PEP).
The analyst comments "A weaker finish to FY23 (which confirmed the known deceleration in FLNA/PBNA and discrete challenges from the QFNA recall), together with reduced organic growth guidance in FY24 (now 4%+ vs. 6% prior), contributed to market skepticism today (given a back-half skew of PEP's outlook and PEP's commentary around a current slowdown in food/beverage category growth in the US). In all, this resulted in PEP's shares underperforming the market by -4 pts (-3.6%... More
Citi Upgrades Pepsico (PEP) to Buy, 'Lowered FY’24 OSG Bar Creates Good Set-Up'
February 12, 2024 5:08 AM ESTCiti analyst Filippo Falorni upgraded Pepsico (NASDAQ: PEP) from Neutral to Buy with a price target of $195.00 (from $180.00).
The analyst comments "Were upgrading PepsiCo (PEP) to Buy from Neutral. PEP has been a heavily debated stock over the last six months after... More
Goldman Sachs First Take on Pepsico (PEP) Q4 2023 Earnings: 'we think the stock will likely underperform today'
February 9, 2024 8:33 AM ESTGoldman Sachs analyst Bonnie Herzog reiterated a Buy rating and $200.00 price target on Pepsico (NASDAQ: PEP).
The analyst comments "Our View - PEP reported mixed Q4 results, with slightly softer topline growth that was more than offset by healthy gross margin expansion, leading to a... More
Evercore ISI Recap on Pepsico (PEP) Q4 2023 Earnings
February 9, 2024 8:06 AM ESTEvercore ISI analyst Robert Ottenstein reiterated an In Line rating and $180.00 price target on Pepsico (NASDAQ: PEP)
The analyst comments "PEP reported 4Q23 EPS of $1.78 vs. Street $1.72, as weaker than expected volumes were more than offset by OM% beat. Organic revenue +4.5% vs. Street +6.2%, with pricing +9% vs. Street +8.1% and volume -4% below Street -2.0%. Convenient foods... More
Deutsche Bank First Take on Pepsico (PEP) Q4 2023 Earnings: 'we expect shares could finish more neutrally'
February 9, 2024 8:04 AM ESTDeutsche Bank analyst Steve Powers reiterated a Hold rating and $184.00 price target on Pepsico (NASDAQ: PEP)
The analyst comments "While PEP shares are indicating down in pre-market (partially reversing strength seen over the last two weeks into results), we expect shares could finish more neutrally (as consensus EPS estimates for FY24 are likely to... More
