
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