Why PepsiCo Stock Lost Its Fizz on Friday
(NASDAQ: PEP) stock was a notable decliner heading into the weekend, suffering a more than 2% drop on a day when the S 500 index it's a part of dipped only marginally. The storied drinks and snacks giant might have done better had it not been for news of a recommendation downgrade from a prominent researcher.
Well before market open that day, Morgan Stanley analyst Dara Mohsenian made that dramatic change. He now considers PepsiCo shares worthy only of an equalweight (read: hold) designation; previously he rated the company an overweight (buy). He did maintain his price target of $185 per share, however, which isn't far from the less than $172 at which it most recently closed.
In his research note detailing the change, Mohsenian cited a tame market for PepsiCo products in the company's native U.S. This, despite the company's increased spending on marketing efforts such as promotions.
Source Fool.com
PepsiCo Inc. Aktie
Klare Kaufstimmung: PepsiCo Inc. hat 23 Buy-Einschätzungen und keine Sell-Einschätzung.
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