Why PepsiCo Stock Lost Its Fizz on Friday
(NASDAQ: PEP) stock was a notable decliner heading into the weekend, suffering a more than 2% drop on a day when the S 500 index it's a part of dipped only marginally. The storied drinks and snacks giant might have done better had it not been for news of a recommendation downgrade from a prominent researcher.
Well before market open that day, Morgan Stanley analyst Dara Mohsenian made that dramatic change. He now considers PepsiCo shares worthy only of an equalweight (read: hold) designation; previously he rated the company an overweight (buy). He did maintain his price target of $185 per share, however, which isn't far from the less than $172 at which it most recently closed.
In his research note detailing the change, Mohsenian cited a tame market for PepsiCo products in the company's native U.S. This, despite the company's increased spending on marketing efforts such as promotions.
Source Fool.com
PepsiCo Inc. Stock
Currently there is a rather positive sentiment for PepsiCo Inc. with 31 Buy predictions and 5 Sell predictions.
As a result the target price of 147 € shows a positive potential of 20.77% compared to the current price of 121.72 € for PepsiCo Inc..
