Piper Sandler raised the firm’s price target on PepsiCo (PEP) to $172 from $161 and keeps an Overweight rating on the shares. The firm notes the company gave preliminary 2026 guidance that is above its operating expectations. Its initial organic revenue growth outlook of 2%-4% is above Piper’s 2.1% estimate, and its margin expansion outlook is also above its 85bps estimate, with the firm leaving both unchanged for now.
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