PepsiCo price target raised to $206 from $195 at Argus

Argus analyst John Staszak raised the firm’s price target on PepsiCo to $206 from $195 and keeps a Buy rating on the shares. The company is well-managed, offers a valuable brand portfolio, and continues to generate solid growth amid weak demand for many consumer staples, the analyst tells investors in a research note. Staszak adds that he expects cost cutting to continue to benefit earnings and looks for PepsiCo to achieve its goal of $1B in annual cost savings.