PepsiCo price target lowered to $145 from $150 at BofA

BofA lowered the firm’s price target on PepsiCo (PEP) to $145 from $150 and keeps a Neutral rating on the shares ahead of the Q2 earnings report on July 17. The firm’s below-consensus EPS forecast reflects sequential slowing in sales for PepsiCo Foods North America and PepsiCo Beverages North America, the analyst tells investors in a research note. PepsiCo continues to navigate a tepid sales environment in North America, BofA says.