Evercore Maintains PepsiCo (PEP) Rating Ahead of Q2 Earnings, Sees Growth Below Street

PepsiCo, Inc. (NASDAQ:PEP) ranks among the top consumer staples stocks according to hedge funds. Evercore ISI kept its In Line rating and $140 price target on PepsiCo, Inc. (NASDAQ:PEP) on July 10 in advance of the company’s July 17 second-quarter earnings report.

With ongoing pressure in North America, Evercore estimates organic sales growth for the company reaching 0.9% for the quarter, below the Street average of 1.8%. The firm projects earnings per share of $2.02, slightly below the Street expectation of $2.04, citing ongoing challenges for Frito-Lay North America, the possible impact of GLP-1, health trends, tariffs, and a weak consumer environment.

Conversely, PepsiCo, Inc. (NASDAQ:PEP) recently completed its acquisition of the prebiotic soda brand Poppi for $1.95 billion, which is in line with the company’s plan to increase the number of health-conscious beverages it offers.

One of the most well-known names in the world, PepsiCo, Inc. (NASDAQ:PEP) is an American multinational company involved in the food, snack, and beverage sectors.

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Read More: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds

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