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Fly News Breaks for April 18, 2019
PEP
Apr 18, 2019 | 06:09 EDT
As previously reported, Goldman Sachs analyst Judy Hong upgraded PepsiCo to Neutral and raised her price target to $132 from $111 after its "strong" Q1 results that saw organic revenue accelerate to 5% and gross margins top expectations. The analyst also notes that her visit to the company's headquarters and meetings with its CEO Laguarta and CFO Johnson added to her confidence about the continued momentum of PepsiCo's snack business. Hong believes that the company should have an "ample cushion" toward its FY19 EPS outlook.
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