PepsiCo

PEP · NASDAQ

$134.02+$0.42 (+0.31%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $133.60

PEP analyst rating

HoldConsensus of 17 analysts over the last 12 months. 24% rate it a buy.

Strong buy0
Buy4
Hold13
Underperform0
Sell0

12-month price target · 26 analysts

Average $154.88 (+15.6% upside)

Low: $125.24
Now: $134.02
High: $189.00

Upgrades and downgrades

The latest rating actions, newest first

PEP analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 12, 2026	Maintains	Equal-Weight	$133.00 → $126.00	62%
Citigroup	Oct 9, 2026	Maintains	Neutral	$142.00 → $135.00	58%
JP Morgan	Oct 9, 2026	Maintains	Neutral	$138.00 → $137.00	58%
BNP Paribas	Oct 9, 2026	Maintains	Outperform	$161.00 → $157.00	51%
Piper Sandler	Oct 9, 2026	Maintains	Overweight	$176.00 → $140.00	51%
RBC Capital	Oct 9, 2026	Maintains	Sector Perform	$150.00	45%
RBC Capital	Oct 6, 2026	Maintains	Sector Perform	$161.00 → $150.00	45%
Wells Fargo	Oct 5, 2026	Maintains	Equal-Weight	$140.00 → $135.00	57%
UBS	Oct 2, 2026	Maintains	Buy	$159.00 → $145.00	62%
Barclays	Oct 1, 2026	Maintains	Equal-Weight	$142.00 → $133.00	62%

The case for and against

Updated Oct 18, 2026

Bull case

PepsiCo is well positioned by its diversified portfolio of leading snack and beverage brands, with convenience foods contributing about 58% of revenue and beverages the remainder, which helps stabilize demand across categories and geographies. Its international business is a key growth engine, with organic sales up 8% in Q3, all four international segments growing, volume rising in three of four, and operating margin expanding 105 bps, while international sales already represent about 41% of revenue and 46% of operating profits before corporate expenses in 2025. Management’s more constructive stance on refranchising, combined with innovation in brands like Quaker, Doritos, and Lay’s and a stated path toward +2-3% organic sales growth and +3-4% EPS growth in 2026-28, supports a positive fundamental outlook.

Bear case

PepsiCo is facing a deteriorating fundamental backdrop because its U.S. businesses are losing momentum, with PFNA posting negative or near-flat organic revenue and PBNA suffering organic revenue declines, 2% volume declines, and management admitting it is “not competing well in soft drinks.” Margin pressure is also intensifying as 6-12 month hedges roll off at higher commodity levels, forcing more pricing and reinvestment just as the company steps up advertising and marketing spend, which lowered 2026 EPS guidance to +2.5-3.5% from +5-7%. Although international momentum remains a support, domestic snack share erosion, weak CSD trends, and the risk of price elasticity hurting volumes make a meaningful and durable recovery look unlikely in the near term.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.