PepsiCo's Higher Productivity Key To Navigating Slower Sales Growth, BofA Analyst Remains Bullish
Portfolio Pulse from Lekha Gupta
PepsiCo reported mixed Q3 results with EPS beating estimates but revenue missing. BofA analyst Bryan D. Spillane remains bullish, citing PepsiCo's productivity and pricing power. The analyst maintains a Buy rating with a $185 price target. Investors can gain exposure through ETFs like IYK and FTXG.
October 08, 2024 | 5:16 pm
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POSITIVE IMPACT
First Trust Nasdaq Food & Beverage ETF includes PepsiCo, which has a positive outlook from BofA despite mixed Q3 results.
FTXG includes PepsiCo, which has a positive outlook from BofA. This could lead to a slight positive impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
iShares U.S. Consumer Staples ETF provides exposure to PepsiCo, which has a positive outlook from BofA despite mixed Q3 results.
IYK holds PepsiCo, which has a positive outlook from BofA. This could lead to a slight positive impact on the ETF's performance.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
PepsiCo's Q3 results were mixed, with EPS beating but revenue missing estimates. BofA analyst remains bullish due to productivity and pricing power, maintaining a Buy rating and $185 price target.
Despite mixed Q3 results, the analyst's positive outlook and maintained Buy rating with a $185 target suggest potential upside. The focus on productivity and pricing power amid inflation supports a positive short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100