PepsiCo price target raised to $164 from $155 at BofA

BofA analyst Peter Galbo raised the firm’s price target on PepsiCo (PEP) to $164 from $155 and keeps a Neutral rating on the shares. Entering 2026, the largest unresolved question for staples remains consumption growth and valuations remain dispersed across the group, but “there feels little to get them off the sidelines in ’26 until fundamentals signal a greater turning of the tide,” the analyst tells investors in a year-ahead note for the consumer staples group.