Wells Fargo lowered the firm’s price target on PepsiCo (PEP) to $150 from $155 and keeps an Equal Weight rating on the shares. The firm notes the company’s Q4 created challenges for the narrative with a combination of weak volume and profit in FLNA furthering debates on limitations in reaccelerating volume profitably, and ultimately, PepsiCo’s ability to get back to long-term algorithm over time.
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