PepsiCo looks like a buy, shares could climb 12%-plus, Barron’s says

Shares of Pepsi have fallen 7% this year, a result that reflects sentiment far more than fundamentals. But as 2023 comes to an end, sentiment might be about to turn, Jacob Sonenshine writes in this week’s edition of Barron’s. The panic over weight-loss drugs also seems to have subsided. What’s more, Pepsi’s growth appears ready to accelerate as investments made over the past five years start to pay off, the author says. If the stock trades at 23 times-a level it has often seen over the years-shares could hit $187.45, up 12% from Thursday’s close of around $168, the publication adds.