Evercore Maintains PepsiCo (PEP) Rating Ahead of Q2 Earnings, Sees Growth Below Street

PepsiCo, Inc. (NASDAQ:PEP) ranks among the top consumer staples stocks according to hedge funds. Evercore ISI kept its In Line rating and $140 price target on PepsiCo, Inc. (NASDAQ:PEP) on July 10 in advance of the company’s July 17 second-quarter earnings report.

Evercore Maintains PepsiCo (PEP) Rating Ahead of Q2 Earnings, Sees Growth Below Street

With ongoing pressure in North America, Evercore estimates organic sales growth for the company reaching 0.9% for the quarter, below the Street average of 1.8%. The firm projects earnings per share of $2.02, slightly below the Street expectation of $2.04, citing ongoing challenges for Frito-Lay North America, the possible impact of GLP-1, health trends, tariffs, and a weak consumer environment.

Conversely, PepsiCo, Inc. (NASDAQ:PEP) recently completed its acquisition of the prebiotic soda brand Poppi for $1.95 billion, which is in line with the company’s plan to increase the number of health-conscious beverages it offers.

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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