Citi analyst Filippo Falorni lowered the firm’s price target on PepsiCo (PEP) to $165 from $168 and keeps a Buy rating on the shares. Citi also opened a “negative 30-day short-term view” on the shares. The firm expects PepsiCo to report “soft” Q3 results on continued weakness in North America and a lower contribution from international markets.
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