Here's Why PepsiCo Stock Popped Today
Shares of beverage and snacking giant (NASDAQ: PEP) popped on Monday after an analyst upgraded his outlook and raised his price target. As of 1:15 p.m. ET, Pepsi stock was up 4%, which is a big move for this usually sleepy stock.
Morgan Stanley analyst Dara Mohsenian is one of the highest-rated and listened-to analysts out there and he's turning heads with his commentary on Pepsi stock today. Mohsenian reportedly is looking to Pepsi's growth in international markets and the valuation of its stock as reasons for bullishness. Accordingly, the analyst raised the price target for Pepsi stock to $190 per share, according to The Fly.
Mohsenian isn't alone in his bullishness for Pepsi in international markets; CEO Roman Laguarta shares his optimism. In the earnings call for the fourth quarter of 2023, Laguarta said, "The international opportunity continues to be probably the most remarkable and exciting opportunity that we have as a company."
Source Fool.com
PepsiCo Inc. Stock
With 22 Buy predictions and not a single Sell prediction PepsiCo Inc. is an absolute favorite of our community.
As a result the target price of 174 € shows a slightly positive potential of 12.68% compared to the current price of 154.42 € for PepsiCo Inc..
