PepsiCo: Jefferies begins tracking as a buyer

(CercleFinance.com) - Jefferies initiates its coverage of PepsiCo shares with a "buy" rating and a target price of $203, expecting it to "outperform in risk-averse environments, and over the long term capitalize on earnings ahead of their peers".


"Pepsi is the most durable business in our coverage, and the most likely to grow earnings high-single digits or better in the next three years (likely better)," the broker says.

"The Hefty investments over the last half decade are yielding results, and we expect returns to accelerate. Frito is strong getting stronger, and beverage margins are set to expand," it adds.



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