PepsiCo High Single-Digit 2011 Growth -JP Morgan (PEP)

In a research report published today, J.P. Morgan stated it expects PepsiCo PEP to have high single-digit core EPS growth. In the report, J.P. Morgan states, "We expect high single digit core EPS growth guidance from PEP when they report on February 10th, below the previous company guidance of double-digit growth, and slightly below a downward trending consensus. We think it is mostly anticipated and think the stock will bounce back post guidance, similar to what we saw from Colgate when they lowered numbers after Q3. While walking away from double-digit guidance might concern investors, PEP has to guide to numbers they can hit and beat in 2011, while still reinvesting." PepsiCo shares are currently trading at $66.21.