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PepsiCo slips after Jefferies downgrades to 'hold'

ReutersMar 12, 2025 10:23 AM

PepsiCo PEP.O slips 1% to $150.80 premarket

Jefferies downgrades to "hold" from "buy"; cuts PT by $1 to $170

Sees limited upside potential until "more concrete" turnaround from co's Frito-Lay business

Expects 2025 to be another subdued year for segment

Notes U.S. beverages remain soft, with Pepsi losing market share despite its Gatorade gaining share

PEP forecast annual profit below expectations and missed Q4 revenue estimates in February

Stock rated "hold" on avg; median PT is $167, per data compiled by LSEG

PEP up 0.2% so far this year, as of last close

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