Cramer: PepsiCo's (PEP) Indra Nooyi Is A 'Bankable CEO'

NEW YORK (TheStreet) -- PepsiCo  (PEP) CEO Indra Nooyi is holding to the idea that the company should remain as one unit of PepsiCo and Frito-Lay, while activist investor Nelson Peltz is pushing for the two entities to split. TheStreet's Jim Cramer calls Nooyi one of his 21 "Bankable CEOs" and believes she would go through with Peltz's idea if she felt it best for the company.

Cramer thinks PepsiCo and Frito-Lay under one roof is a solid plan and notes the company has generated some earnings power; however, Cramer is down on the soda business at the moment. He notes there are several ways to win here because when an activist gets involved, regardless of the CEO's feelings on said activist's opinion, the stock tends to climb.

Cramer calls Nooyi a "very good executive" whom he expects to increase the company's value over time. Therefore, he suggests PepsiCo as a terrific buy under $83 dollars a share.

Must Watch: PepsiCo's Indra Nooyi is One of Jim Cramer's 'Bankable CEOs'

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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Separately, TheStreet Ratings team rates PEPSICO INC as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate PEPSICO INC (PEP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, revenue growth, notable return on equity, expanding profit margins and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

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