PepsiCo price target raised to $165 from $153 at Morgan Stanley

Morgan Stanley raised the firm’s price target on PepsiCo (PEP) to $165 from $153 and keeps an Equal Weight rating on the shares. After the fiscal year guide-down with Q1, Q2 represented “clear progress for Pepsi,” the analyst tells investors in a post-earnings note. A productivity ramp-up is providing better earnings visibility, but muted topline growth, continued U.S. woes and the recent bounce in the stock leave the firm with an Equal Weight rating.