PepsiCo price target lowered to $195 from $200 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on PepsiCo to $195 from $200 but keeps a Buy rating on the shares. The firm is reducing its Q2 organic sales growth estimate to 2.3% from 3.3%, reflecting some topline pressure in North America, though this is expected to be partially offset by healthy growth internationally amid an improving consumer backdrop, notably in Europe, the analyst tells investors in a research note. Goldman Sachs added that despite what is likely to be softer Q2 results, the firm still expects PepsiCo to be able to achieve their FY24 organic sales growth guidance of at least 4% and constant currency EPS growth guidance of at least 8%.