PepsiCo Faces Target Cuts as North American Foods Turnaround Loses Steam

Wall Street analysts have cast fresh doubt on PepsiCo’s (NASDAQ: PEP) recovery, with several firms cutting price targets ahead of the company’s upcoming earnings report.

Barclays lowered its price target to $144 from $158. The firm cited concerns that PepsiCo’s North American foods turnaround is losing steam and that the company is lagging behind consumer staples peers.

Analysts pointed to persistent weakness in PepsiCo’s core snack portfolio and a softer demand outlook. JPMorgan and UBS also cut their targets, reflecting broader concerns about the company’s pricing power and shifting consumer spending.

Retail investor discussion echoed the cautious sentiment. Message volume on the stock surged more than 400% as sentiment shifted from bullish to neutral.