PepsiCo: Jefferies raises TP

(CercleFinance.com) - Jefferies confirms its 'buy' rating on PepsiCo, a stock that it has added to its 'franchise picks' list, while raising its target price for them from $199 to $209, noting that international momentum continues to build with no signs of slowing.


The broker points out that margins in international operations are now above the average for the food group as a whole, and still have potential for improvement as they grow in size.

Overseas potential is not fully priced in, given the ongoing focus on Frito's slowdown, creating an increased buy opportunity, it concludes.


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