BofA raised the firm’s price target on PepsiCo (PEP) to $173 from $164 and keeps a Neutral rating on the shares following a Q4 EPS beat and reiteration of the FY26 outlook. The firm continues to forecast FY26 EPS of $8.60, but believes a higher multiple is justified given the strategic actions underway to improve PepsiCo Foods North America performance, the analyst tells investors.
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