Pepsi's Outlook Is Sweet, Buy Rating Reiterated By Goldman

PepsiCo, Inc. PEP is having its Buy rating reiterated by Goldman Sachs, as the company is expected to show acceleration toward earnings growth in the mid-teens for 2H2010, as grocery store data points to improving trends in beverages and snacks, Goldman reports. Gatorade has showed a turnaround, with sales up 15% in 3Q, and PepsiCo's beverage portfolio continully shows gradual improvement in recent data reports, and the non-carbonated portfolio has returned to its 3% quarterly growth, according to Goldman. Goldman leaves the $76 price target unchanged for PepsiCo, Inc., which closed friday at $66.12.