Fly News Breaks for February 14, 2020
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.
News For PEP From the Last 2 Days
Jun 3, 2020 | 06:04 EDT
PepsiCo (PEP) announced that Wern-Yuen Tan has been appointed CEO of Asia Pacific, Australia, New Zealand and China, or APAC, overseeing all of PepsiCo's operations in the region. Tan, who will begin his new role on June 15, will be based in Singapore and will report to PepsiCo CEO Ramon Laguarta. Prior to PepsiCo, Tan served as president and CEO of Walmart China (WMT) where he led a team of 100,000 associates responsible for over $10B in annual revenue across the Walmart, Sam's Club and e-commerce businesses.