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PepsiCo Cut to a “Hold” at Stifel Nicolaus (PEP)

Beverage and snack food maker PepsiCo, Inc. ( PEP ) on Friday caught a big downgrade from analysts at Stifel Nicolaus.

The firm said it cut its rating on PEP from "Buy" to "Hold" and, in a rare move for analysts, completely removed its $75 price target. That target had represented a potential 23% upside to the stock's Thursday closing price of $60.92.

PepsiCo shares, which have fallen 6.75% year-to-date, fell 60 cents, or -1%, in premarket trading Friday.

The Bottom Line

Shares of Pepsico ( PEP ) have a 3.38% dividend yield, based on last night's closing stock price of $60.92. The stock has technical support in the $55-$57 price area. If the shares can firm up, we see overhead resistance around the $64-$65 price levels.

PepsiCo, Inc. ( PEP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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