PEP - PepsiCo Q2 Earnings Were Softer Than Expected Due To Volume Pressure: Goldman Sachs | Benzinga
Goldman Sachs analyst Bonnie Herzog reiterated a Buy rating on the shares of PepsiCo Inc (NASDAQ:PEP) with a price target of $195.
PEP delivered mixed second-quarter results, with softer-than-expected organic revenue growth that was more than offset by strong gross margin expansion, leading to an EPS beat, said the analyst.
According to the analyst, organic volumes were under a bit more pressure than expected, down -3%, and were sequentially lower.
The Frito Lays North America segment results were largely as expected and were broadly in-line with recent Nielsen trends, noted the analyst.
The ...