BofA raised the firm’s price target on PepsiCo (PEP) to $150 from $145 and keeps a Neutral rating on the shares after Q2 results surpassed BofA and consensus forecasts and the company raised its FY25 EPS outlook. The firm cites higher estimates for its raised target, but notes that it values PepsiCo below non-alcoholic beverage peers given near-term challenges in U.S. Snacks, balanced by resilient earnings and portfolio flexibility.
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