PepsiCo downgraded to Hold from Buy at Freedom Capital

Freedom Capital analyst Georgy Vashchenko downgraded PepsiCo (PEP) to Hold from Buy with a price target of $164, down from $170. Q3 sales and EPS came in above consensus estimates, driving a rally in the stock, as the company maintained its full-year guidance for revenue and improved its EPS growth outlook for FY25, the analyst noted. The firm’s revised price target implies 7% upside potential, which it says warrants a Hold recommendation.