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Fly News Breaks for February 14, 2020
PEP
Feb 14, 2020 | 09:31 EDT
SunTrust analyst Bill Chappell raised his price target on PepsiCo to $135 to reflect the multiple expansion across the Consumer Packaged Goods space. The analyst is keeping his Hold rating however, noting that the company's stepped up brand investment which had been expected to be reduced is now seen continuing indefinitely. Chappell adds that PepsiCo's North America business is "far from fixed" and the beverage business will remain a drag on its earnings.
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