Is PepsiCo Stock Going to $195? 1 Wall Street Analyst Thinks So
Semiconductor chips are all the rage among investors these days, but could corn chips and soda pop be an even better investment?
On Tuesday, Citigroup analyst Filippo Falorni made the case for buying PepsiCo (NASDAQ: PEP) stock, arguing that the purveyor of salty snacks and sugary drinks is underpriced at its current valuation -- roughly 25.5 times trailing earnings, and $168 a share as of this writing -- and will reach $195 within a year.
Pepsi recently lowered its target for 2024 organic sales growth (meaning growth of the brands Pepsi already owns, not counting growth from any new brands it buys) to "at least 4%" from a prior target of 4% to 6%, as StreetInsider.com reported Tuesday.
Source Fool.com