PepsiCo price target lowered to $148 from $163 at RBC Capital

RBC Capital lowered the firm’s price target on PepsiCo (PEP) to $148 from $163 and keeps a Sector Perform rating on the shares. The company reported another difficult quarter, highlighted by domestic topline pressures and a difficult consumer environment in snacking, and the combination of consumer pressures, tariffs, and macro uncertainty bring down numbers for the balance of the year, the analyst tells investors in a research note.