TD Cowen Lifts PT on PepsiCo (PEP) to $165 From $162 – Here’s Why

PepsiCo, Inc. (NASDAQ:PEP) is one of the best sugar stocks to buy according to hedge funds. On February 20, TD Cowen lifted the price target on PepsiCo, Inc. (NASDAQ:PEP) to $165 from $162, maintaining a Hold rating on the shares and telling investors that the company provided color on its turnaround strategy, reiterated its 2026 guidance, and expressed confidence it can return to 4%-6% sales growth by the second half of 2026.

In a separate development, PepsiCo, Inc. (NASDAQ:PEP) announced on February 19 its expansion into a new food category with the launch of a ready-to-heat range of vegetable soups under its Alvalle brand. Management reported that the range builds on the brand’s success in the packed gazpacho soup category and aligns with consumer trends toward health, convenience, and plant-based eating, and customers seeking ready-to-eat, nutritious meals.

PepsiCo, Inc. (NASDAQ:PEP) further reported that the expansion aligns with the company’s focus as a food company rooted in agriculture, and marks its latest initiative into broadening its food portfolio across the globe, following recent acquisitions such as Siete Foods and Sabra dips.

PepsiCo, Inc. (NASDAQ:PEP) manufactures, markets, distributes, and sells beverages, food, and snacks. The company operates in the following segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).

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Disclosure: None. This article is originally published at Insider Monkey.