Is PepsiCo Stock Going to $190? 1 Wall Street Analyst Thinks So
As often happens when a prominent company is about to publish a quarterly earnings report, analysts have been adjusting their price targets in anticipation. In this case, it's (NASDAQ: PEP). Evaluations of the big beverage and snack food conglomerate run the gamut from poor to excellent, and one of the more optimistic takes on the company's stock anticipates a double-digit percentage upside potential in its price.
The analyst with that rosy view of PepsiCo's future is Bank of America Securities analyst Bryan Spillane. The company is slated to unveil its second-quarter results later this week and on Monday Spillane cut his price target on the shares to $190 apiece from the former level of $210. Despite the target drop, the analyst remains bullish on PepsiCo, rating it a buy. Spillane's target implies a 17.2% upside over the next 12 months for the stock.
While the analyst said he is concerned with relatively soft demand in the food and beverage industry, he also feels that PepsiCo stock is attractively priced at its current levels. He also pointed out a pleasing reality for the company, in that it consistently lands in the black and generates comfortable margins.
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 12.62% compared to the current price of 154.5 € for PepsiCo Inc..
