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
PepsiCo Inc. is currently one of the favorites of our community with 15 Buy predictions and no Sell predictions.
With a target price of 176 € there is a slightly positive potential of 7.17% for PepsiCo Inc. compared to the current price of 164.22 €.
