Connect with us

Hi, what are you looking for?

Stock

PepsiCo Nudges Higher After UBS Raises Price Target

Stock Markets53 minutes ago (Apr 21, 2021 01:19PM ET)

(C) Reuters.

By Dhirendra Tripathi

Investing.com – PepsiCo (NASDAQ:PEP) rose nearly 1% Wednesday, pushed higher by an upgrade from UBS analyst Sean King.

Rating the stock a buy, King raised his price target to $165. That is 14% higher than his previous estimate and 12% higher than the current price.

“We believe PepsiCo is only at the mid-point of an investment cycle that will yield a sustainable improvement to top and bottom line growth,” King wrote in his note.

Investments in beverage margins and global snacking scale support our above street outlook for 2021-23 estimated sales growth of +5.7% and EPS growth of +10.0%, the UBS analyst wrote.

At its April 15 earnings announcement, the company said it had “greater confidence in delivering on our financial guidance for the full year.”

The company has provided for a mid-single-digit increase in organic revenue and a high-single-digit rise in core constant currency EPS for 2021.

Organic revenue growth in 2020 was 4.3% while core constant currency EPS grew 2%.

PepsiCo Nudges Higher After UBS Raises Price Target

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved