J.P. Morgan Overweight On PepsiCo (PEP)

J.P. Morgan Chase & Co. has an Overweight rating and a $80 price target on shares of PepsiCo PEP. In a note to investors, J.P. Morgan writes, "We recently met with PEP's management team, including CEO Indra Nooyi, CFO Hugh Johnston, CEO of Americas Foods John Compton, and CEO of Europe Zein Abdalla. We came away with confidence that the management team understands the concerns that have been on many investors' minds and that the company is taking steps in the right direction. While we think it may take a little while to see the multiple return to previous levels, we believe it can happen as the company 1) sees top line improve in North America, 2) the international story remains on track, and 3) the company manages expectations effectively." Shares of PEP gained 36 cents yesterday to close at $64.34, a gain of 0.56%.