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PepsiCo: Jefferies raises target price

( - Jefferies has a hold rating on the share, while nudging up its target price from 137 dollars to 139 dollars.

The broker expects the group's Q3 results to be in line with expectations. Pepsi is relatively cautious and expects single-digit sales growth.

Jefferies stresses that market share growth is "cenetral to strategy" of company boss Ramon Laguarta. The broker believes that the company has a "greater sense of urgency" and has developed a "mentality of attack" to accelate growth, increase its market share, reduce costs and fill gaps in its portfolio.

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