Citi Maintains Bullish Outlook on PepsiCo (PEP) Following a Q2 Results Preview

PepsiCo, Inc. (NASDAQ:PEP) ranks among the top NASDAQ stocks for retirement. As part of a Q2 results preview, Citi lowered its price objective for PepsiCo, Inc. (NASDAQ:PEP) to $170 from $182 and maintained a Buy rating on the stock. The firm expects PepsiCo, Inc. (NASDAQ:PEP) to report earnings per share of $2.18, lower than the average projection of $2.22.

The company is facing issues in its snacking business and is losing market share in North American beverage subcategories. However, these flaws are mitigated by a thriving multinational business.

In a similar vein, Deutsche Bank reduced its price target for PepsiCo, Inc. (NASDAQ:PEP) to $168 from $173 with a Buy rating on June 18. The firm stated that early-quarter data indicated “encouraging momentum” after the company regained positive volume growth during the first quarter. However, consumption patterns slowed in late April and May.

One of the most well-known names in the world, PepsiCo, Inc. (NASDAQ:PEP), is an American multinational company involved in the food, snack, and beverage sectors.

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