PepsiCo price target lowered to $163 from $165 at RBC Capital

RBC Capital lowered the firm’s price target on PepsiCo (PEP) to $163 from $165 and keeps a Sector Perform rating on the shares as part of a broader research note previewing Q1 results in Home and Personal Care, Beverages, and Packaged Food categories, The March quarter should be fine, characterized by a still sluggish top-line environment, though much of the emphasis will be on forward commentary due to Middle East conflict, which has created top-line and inflationary risks, the analyst tells investors in a research note. This ceasefire announcement is a positive but the firm still expects lingering impacts and elevated commodity prices relative to prior to the conflict, RBC added.