BUZZ - JPMorgan downgraded PepsiCo’s rating to "neutral"; share price declined

September 29 - ** Shares of snack and carbonated beverages giant PepsiCo (PEP.O) fell nearly 1% premarket to $127.5

** JPMorgan downgraded the stock from "Overweight" to "Neutral"; the price target was sharply reduced from $170 to $138, which still represents a 7.3% upside from the previous trading day's closing price

** The brokerage said that based on channel data and recent price increases, after stripping out temporarily boosted demand factors, the North American market could continue to underperform management's expectations

** "Despite a series of measures including adjusting ingredients and packaging, increasing marketing spend, and lowering prices, we believe that the performance of Frito-Lay North America's savory snack business remains lackluster, and the recovery momentum seems to have stalled after Q1 2026," — JPMorgan

** An average of 25 analysts rate the stock as “Hold”; the median price target is $153 — data compiled by LSEG

** As of the previous trading day's close, the stock has fallen about 10.5% so far this year

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