0941 ET - Investors are bracing for another soft quarter for PepsiCo as consumption trends in the U.S. appear to have deteriorated for snacking, JPMorgan analysts say in a research note. At the same time, beverages remain lackluster, international has a smaller contribution in the first quarter, and productivity phasing and investments will weight on margins, the analysts say. "While valuation is attractive, the lack of visibility to a rebound in snacking, coupled with the Make America Healthy and Again [movement] and GLP-1 risk keep us on the sidelines," the analysts add on the political and weight-loss medication pressures. JPMorgan raises its target price to $159 a share from $158 a share previously. PepsiCo shares fall 0.9% to $141.62. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
April 21, 2025 09:41 ET (13:41 GMT)
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