PepsiCo price target raised to $181 from $172 at Piper Sandler

Piper Sandler raised the firm’s price target on PepsiCo (PEP) to $181 from $172 and keeps an Overweight rating on the shares. The firm continues to like PepsiCo and believes its targeted price adjustments can drive meaningful volume improvement, as was the case in selected SKUs in the second half of 2025 that illustrate consumer responsiveness. Piper is also bullish on its 2026 innovation slate, with its new products delivering on an obvious desire to deliver health benefits without taste trade-offs.