Bank of America Securities analyst Bryan Spillane has maintained their bullish stance on PEP stock, giving a Buy rating on March 18.
Bryan Spillane has given his Buy rating due to a combination of factors that highlight PepsiCo’s potential for stability and growth. Despite the broader market experiencing some demand weakness, PepsiCo’s position as a reliable compounder in the consumer staples sector makes it an attractive option for investors seeking defensiveness. The company’s ability to maintain steady performance amidst economic uncertainties is a key factor in Spillane’s positive outlook.
Furthermore, PepsiCo’s strategic initiatives and management’s willingness to embrace self-help measures to drive growth contribute to the Buy rating. The company is seen as a leader in leveraging opportunities for expansion and efficiency improvements, which are expected to support its long-term growth trajectory. These elements, combined with its strong market presence, make PepsiCo a compelling investment choice according to Spillane’s analysis.
In another report released on March 18, UBS also reiterated a Buy rating on the stock with a $175.00 price target.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PEP in relation to earlier this year.