Beverage and snack food giant PepsiCo, Inc. ( PEP ) on Monday saw its price target and earnings estimates lowered by analysts at UBS.
The firm said it lowered its price target for PEP to $72, which still implies a 13% upside to the stock's Friday closing price of $63.87. UBS also lowered its earnings estimates for the company, citing higher costs, but maintained its "Buy" rating.
PepsiCo shares were mostly flat in premarket trading Monday.
The Bottom Line
We have been recommending shares of Pepsico ( PEP ) since July 30, 2009, when the stock was trading at $56.33. The company has a 3.01% dividend yield, based on Friday's closing stock price of $63.87.
PepsiCo, Inc. ( PEP ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.6 out of 5 stars.
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