Beverage and snack food giant PepsiCo, Inc. ( PEP ) on Monday saw its earnings estimates and price target lowered by analysts at UBS.
The firm said it lowered its estimates for PEP through 2012, citing decelerating sales growth.
Still, the firm maintained its "Buy" rating and set a new $72 price target, which suggests a smaller 18% upside to the stock's Friday closing price of $61.02.
PepsiCo shares rose 48 cents, or +0.8%, in premarket trading Monday.
The Bottom Line
Shares of Pepsico ( PEP ) have a 3.38% dividend yield, based on Friday's closing stock price of $61.02. The stock has technical support in the $57-$60 price area. If the shares can firm up, we see overhead resistance around the $64 price level.
PepsiCo, Inc. ( PEP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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