PepsiCo, Inc. reported third-quarter results Wednesday that were ahead of expectations and raised its outlook for the full year.
The company’s sales grew 8.8 percent year-over-year to $21.97 billion, topping the consensus estimate of $20.81 billion, while core earnings grew 10.05 percent to $1.97 per share, exceeding expectations of $1.84 per share.
Here’s what the Street has to say about the beverage giant’s quarterly print.
Wells Fargo on PepsiCo
Analyst Gary Mobley maintained an Equal Weight rating while raising the price target from $172 to $174.
“Q322 was marked by +16 percent organic sales growth, driven by pricing +17 percent but nevertheless with just -1 percent volume impact as elasticities remain low,” Mobley said in a note….