PepsiCo (NASDAQ: PEP) generated revenues of $21.9 billion in Q3, up 8.8% year-over-year and surpassing analysts’ estimates of $20.8 billion. The beverage giant reported adjusted earnings of $1.97 per share, beating Street forecasts of $1.85 per share.
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PepsiCo’s Chairman and CEO Ramon Laguarta commented, “Given our year-to-date performance, we now expect our full-year organic revenue to increase 12 percent (previously 10 percent) and core constant currency earnings per share to increase 10 percent (previously 8 percent).”
Is PepsiCo a Buy, Sell, or Hold?
Wall Street analysts are cautiously optimistic about PEP stock, with a Moderate Buy consensus rating based on five Buys and five Holds.
The average PEP price target of $182.20 implies an upside potential of 12.1% to current levels.
