Citi analyst Filippo Falorni lowered the firm’s price target on PepsiCo (PEP) to $165 from $168 and keeps a Buy rating on the shares. Citi also opened a “negative 30-day short-term view” on the shares. The firm expects PepsiCo to report “soft” Q3 results on continued weakness in North America and a lower contribution from international markets.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PEP:
- Positive Long-Term Outlook for PepsiCo Amid Near-Term Challenges
- Some Investors Are Cautious about Elliott’s Push to Separate Pepsi’s (PEP) Bottling Business
- Coca-Cola (KO) vs. PepsiCo (PEP): Which Beverage Stock Is the Smarter Dividend Pick?
- Snickers Maker Mars Plans $1.2B Investment in Europe as Expansion Drive Hits a Snag
- PepsiCo price target lowered to $170 from $175 at UBS