JPMorgan analyst Andrea Teixeira upgraded PepsiCo (PEP) to Overweight from Neutral with a price target of $164, up from $151. The firm believes the company’s “accelerated agenda” of innovation and marketing spending will drive strong productivity savings. This should position PepsiCo to drive high-single-digit total shareholder return in 2026, which benchmarks well against its high-quality peers, the analyst tells investors in a research note. Meanwhile, JPMorgan says the shares are trading a “steep discount” relative to the group.
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