1035 ET - Bank of America downgrades PepsiCo to neutral from buy, citing lagging growth in its Frito-Lay North America segment and continued market-share losses in its North American beverage business. In a note, BofA says its sees limited opportunity for either top-line outperformance or better than low-single-digit EPS growth for PepsiCo in 2025 and 2026, and the analysts say a return to Frito-Lay North America volume growth in excess of 100 basis points is unlikely until 2027. BofA maintains its 2025 estimates for organic sales and EPS for PepsiCo but trims its views for 2026 and 2027, and its price objective on the stock goes to $155 from $185. PepsiCo down 1.1% to $145.12. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 10:35 ET (14:35 GMT)
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