PepsiCo downgraded at Deutsche Bank over North America turnaround doubts
-0.10% to $128.50 from $128.63
What moved PEP
- Deutsche Bank downgraded PepsiCo to Hold from Buy and cut its price target to $138 from $155.
- Analyst Steve Powers said he no longer sees a clear path to the North American recovery embedded in consensus estimates, citing soft demand, higher costs and limited evidence of durable traction at Frito-Lay.
- The bank also flagged growing risk to PepsiCo’s overseas momentum alongside its North American concerns.
Sources: GuruFocus · Investing.com