Barclays says Pepsi ‘buy vs. build’ decision with poppi ‘makes a lot of sense’

After PepsiCo (PEP) announced an agreement this morning to acquire poppi for $1.65B, net of cash tax benefits, Barclays said the decision to “buy vs. build its way into the modern soda category makes a lot of sense,” particularly after the firm dug into poppi’s positioning using Social Standards and Numerator data. Poppi boasts both scale and credibility with consumers, which screens particularly attractive, added the analyst, who keeps an Overweight rating and $168 price target on Pepsi shares.