PEP is trading at 2.9% up now at $148.82 after a JPMorgan upgrade and several target hikes from major Wall Street firms. The positive movement follows JPMorgan's decision to upgrade PepsiCo from Neutral to Overweight, significantly boosting its price target.
- JPMorgan lifted its price target to $164, citing key drivers such as innovation, productivity savings, and an accelerated shareholder value plan.
- The positive sentiment is reinforced by additional bullish commentary from Piper Sandler, UBS, and Jefferies, all of whom raised or reaffirmed high targets despite a mixed broader market.