Shares of PepsiCo (NASDAQ: PEP) were on the rebound today, just one day after the stock fell 3% following its first-quarter earnings report.

While the food and beverage company beat headline revenue and profit estimates, the first-quarter results were marred by a product recall at its Quaker Foods segment, and revenue fell in North America.

But today the stock more than made up for those losses after a bullish note from Morgan Stanley. As a result, the stock was up 3.9% as of 2:42 p.m. ET on Wednesday.

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Source Fool.com