PEP · News · 20260929N

Guidance / Outlook

PEPSICO INC · 2026-09-29 · Importance 26 · Surprise 24

JPMorgan downgraded PepsiCo to Neutral and reduced its price target, citing weaker North American trends and a stalled Frito-Lay recovery ahead of the company’s October 8, 2026 third-quarter earnings report. The analyst expects PepsiCo to rely more heavily on productivity initiatives to meet earnings guidance. Higher costs could offset those savings if North American demand remains subdued.

Key facts

• The firm expects PepsiCo to rely more on productivity to meet earnings guidance, as North American trends remain subdued and higher costs could offset savings. source
• PepsiCo just got a 19% price-target cut ahead of earnings (headline). source
• Several other analysts have lowered their price targets for PepsiCo ahead of its Q3 earnings report on October 8th. source