Goldman Sachs cuts PepsiCo price target to $165 from $180, keeps Buy rating
AI Market Summary
Goldman Sachs cut PepsiCo's price target to 165 from 180 while reiterating a Buy, after Q3 organic sales slightly beat expectations but management narrowed FY26 organic sales guidance to ~3% and sharply reduced constant-currency EPS growth expectations to 1%-2%. The revision highlights near-term margin and earnings headwinds even as longer-term mid-single-digit organic growth remains the base case.
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Goldman Sachs analyst Bonnie Herzog lowered PepsiCo’s price target to $165 from $180 while maintaining a Buy rating. PepsiCo posted Q3 organic sales growth of 3.1%, slightly above the 2.9% consensus estimate. Management narrowed FY26 organic sales growth guidance to about 3% and cut its constant-currency EPS growth outlook to 1%-2% from the prior view at the low end of 4%-6%, Goldman Sachs said. The firm said it still expects PepsiCo to be able to deliver mid-single-digit organic sales growth over the longer term.
