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PEP

PepsiCo

$118.90

1.31 (1.11%)

08:04
12/07/17
12/07
08:04
12/07/17
08:04

PepsiCo names Mike Spanos as CEO, Asia, Middle East and North Africa

PepsiCo announced that, effective January 1, 2018, Mike Spanos, currently President, PepsiCo Greater China Region, will become CEO, Asia, Middle East and North Africa, and Sanjeev Chadha, currently CEO of AMENA, will become Chairman of AMENA through the end of Q1 2018. Both Spanos and Chadha will report to PepsiCo Chairman and CEO Indra Nooyi. Spanos has had a notable career at PepsiCo, spanning 24 years with posts in the U.S., Europe and Asia. Prior to leading PepsiCo's China business, he led the sales organization across PepsiCo's North America Beverages portfolio, and served as SVP and General Manager for the West Business Unit of the company's beverage operations. Previously, Spanos held various sales and GM roles, including Country Manager for Turkey and VP of Sales and Food Service for The Pepsi Bottling Group, Inc. He began his PepsiCo career as a frontline territory development manager in beverages.

PEP PepsiCo
$118.90

1.31 (1.11%)

09/14/17
MACQ
09/14/17
INITIATION
Target $125
MACQ
Outperform
PepsiCo initiated with an Outperform at Macquarie
Macquarie analyst Caroline Levy initiated PepsiCo with an Outperform and a $125 price target saying management has continued to evolve the company to win as consumer changes accelerate. Levy said Pepsi has leading brands in big markets, a best in class snack business, and financial discipline.
10/02/17
JEFF
10/02/17
DOWNGRADE
Target $108
JEFF
Hold
PepsiCo downgraded to Hold from Buy at Jefferies
Jefferies analyst Kevin Grundy downgraded PepsiCo to Hold and cut his price target for the shares to $108 from $133. The food and beverage company closed Friday down 21c to $111.43. North American beverage trends continue to deteriorate and Pepsi's likely need for reinvestment should "cap the stock" over the next 12 months, Grundy tells investors in a research note. The analyst adds that food valuation multiples are contracting and that Pepsi has high exposure to a difficult U.S. environment.
10/02/17
SUSQ
10/02/17
NO CHANGE
Target $135
SUSQ
Positive
PepsiCo could be next takeout for AB In Bev, says Susquehanna
Susquehanna analyst Pablo Zuanic noted Pepsico (PEP) reports Q3 on October 3rd and he projects year-to-date metrics and earnings are below consensus. He trimmed his North American sales growth on weaker trends than expected, but he believes the potential miss could already be reflected in the shares. The analyst said based on valuation and fundamentals the stock deserves a Neutral rating but he continues to see it as the next logical target for AB InBev (BUD) in a joint bid with Kraft Heinz (KHC). Zuanic keeps a $135 price target on PepsiCo shares.
10/02/17
10/02/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. PepsiCo (PEP) downgraded to Hold from Buy at Jefferies with analyst Kevin Grundy saying North American beverage trends continue to deteriorate and Pepsi's likely need for reinvestment should "cap the stock" over the next 12 months. 2. Western Digital (WDC) downgraded to Neutral from Outperform at Baird with analyst Tristan Gerra saying he believes the potential outcomes from the company's ongoing litigation with Toshiba (TOSYY) "range from neutral to significantly negative" and the ongoing fight will cap the stock's valuation in the near-term. 3. Uniti Group (UNIT) downgraded to Neutral from Overweight at JPMorgan with analyst Philip Cusick saying the "theme of Windstream's (WIN) distress continues to increase in volume." 4. Parker-Hannifin (PH) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Nigel Coe saying he sees a more balanced risk-reward following the stock's strong outperformance since the election. 5. bluebird bio (BLUE) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Matthew Harrison saying he believes the risks ahead of the company's presentation of LentiGlobin sickle cell data at December's American Society of Hematology meeting remains underappreciated. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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WPP

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TGT

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BBD

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$9.60

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SPDR S&P 500 ETF Trust

$266.76

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VIPS

Vipshop

$5.54

0.07 (1.28%)

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EFA

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AKRX

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AQST

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