PepsiCo: Wedbush cuts target price
(CercleFinance.com) - Wedbush reiterates its "outperform" rating on PepsiCo shares, while reducing its target price for them from $206 to $195, after reducting its 2023 and 2024 EPS estimates to $7.
47 and $7.96 respectively, and due to a lower target multiple of 24.5x.
The broker has updated its model for the agrifood group to take into account FX factors, although with a P/E multiple trading well below its 1-, 3- and 5-year averages, it deems the stock's valuation compelling at these levels.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
47 and $7.96 respectively, and due to a lower target multiple of 24.5x.
The broker has updated its model for the agrifood group to take into account FX factors, although with a P/E multiple trading well below its 1-, 3- and 5-year averages, it deems the stock's valuation compelling at these levels.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.