NEW YORK (TheStreet) -- Shares of PepsiCo (PEP) are trading lower by 0.40% to $97.36 in early market trading on Friday, as the global soda maker had coverage initiated on its shares with a "buy" rating by analysts at Evercore ISI this morning.
Analysts at the firm set its price target for PepsiCo at $115 a share.
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Purchase, NY-based PepsiCo is a global food and beverage company that makes, markets, sells and distributes a range of foods and beverages in more than 200 countries and territories. The company is organized into four business units: PepsiCo Americas Foods, PepsiCo Americas Beverages, PepsiCo Europe, and PepsiCo AMEA.
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 revenue growth, notable return on equity, solid stock price performance, growth in earnings per share and good cash flow from operations. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."