PepsiCo, Inc. — Wall Street Analyst Estimates & Price Targets

PEP

NASDAQConsumer DefensiveBeverages - Non-AlcoholicCIK 0000077476pepsico.comAbout PEP

Last close · Oct 16, 2026131.49+3.11 (+2.42%)

Market cap$179.2B

11 firms' latest targets, last 90 days: median $140.00 ($132.00–$165.00), 6% above the last close.

Price and published targets

daily close, 12 months · each dot a target, a firm's latest darker

Each firm's latest target

last 90 days · 11 firms

Date	Firm	Target	Previous	Change	Vs price then	Vs price now
2026-10-09	Morgan Stanley	$145.00	$160.00	▼ 9%	+15%	+10%
2026-10-09	Deutsche Bank	$132.00	$138.00	▼ 4%	+5%	+0%
2026-10-09	Piper Sandler	$140.00	$176.00	▼ 20%	+9%	+6%
2026-10-08	Goldman Sachs	$165.00	—	—	+29%	+25%
2026-10-06	RBC Capital	$150.00	$161.00	▼ 7%	+19%	+14%
2026-10-02	UBS	$145.00	$159.00	▼ 9%	+16%	+10%
2026-10-01	Barclays	$133.00	$142.00	▼ 6%	+5%	+1%
2026-09-30	Evercore ISI	$135.00	$150.00	▼ 10%	+5%	+3%
2026-09-29	Jefferies	$138.00	$152.00	▼ 9%	+7%	+5%
2026-09-28	TD Cowen	$133.00	—	—	+4%	+1%
2026-09-23	BNP Paribas Exane	$161.00	$183.00	▼ 12%	+24%	+22%

Consensus estimates

revenue and EPS by fiscal year · reported years marked

FY	Revenue	YoY	EPS	YoY	Revenue range	EPS range	Analysts
2023reported	$91.5B	+6%	$6.56	+2%	est. $92.0B-1%	est. $7.56	11
2024reported	$91.9B	+0%	$6.95	+6%	est. $92.1B+0%	est. $8.15	12
2025reported	$93.9B	+2%	$6.00	-14%	est. $93.5B+0%	est. $8.11	14
2026	$99.3B	+6%	$8.41	+4%	$98.9B–$99.7B	$8.30–$8.62	15
2027	$101.8B	+2%	$8.59	+2%	$101.3B–$102.5B	$8.24–$9.10	17
2028	$104.9B	+3%	$9.05	+5%	$103.0B–$107.6B	$7.55–$9.76	17
2029	$105.8B	+1%	$9.37	+3%	$104.9B–$106.9B	$9.27–$9.49	9
2030	$109.3B	+3%	$9.85	+5%	$108.4B–$110.4B	$9.74–$9.97	13

A reported year shows the company's figures, with the consensus beside it (revenue against it in %). Reported EPS is GAAP diluted; the analysts' EPS usually leaves items such as stock compensation out, so the two are not like for like. Faded: a year the valuation models do not read — they read the first 3, and a later one only while 10 or more analysts cover every year up to it — or one under 5 analysts.

The analysts at a glance

$140.00median target, 6% above the last close

Firms with a target · last 90 days: 11
Lowest – highest target: $132.00 – $165.00
Current grades of 15 firms: positive / neutral / negative: 3 / 12 / 0
Upgrades / downgrades · 12 months: 1 / 4
Consensus revenue growth · next 3 FY: +4% a year

Current grades

each firm's latest · 15 firms

As of	Firm	Grade
2026-10-12	Barclays	“Equal Weight”
2026-10-09	Citigroup	“Neutral”
2026-10-09	BNP Paribas Exane	“Outperform”
2026-10-09	RBC Capital	“Sector Perform”
2026-10-09	Piper Sandler	“Overweight”
2026-10-09	J.P. Morgan	“Neutral”
2026-10-05	Wells Fargo	“Equal Weight”
2026-10-02	UBS	“Buy”
2026-09-30	Evercore ISI	“In Line”
2026-09-28	Deutsche Bank	“Hold”

5 more

2026-09-28	TD Cowen	“Hold”
2026-07-10	Morgan Stanley	“Equal Weight”
2026-07-10	Jefferies	“Hold”
2026-06-25	Bank of America	“Neutral”
2025-10-23	Freedom Capital Markets	“Hold”

Grade changes

last 24 months · 10

Date	Firm	Grade
2026-09-29	J.P. Morgan	“Overweight” → “Neutral” downgrade
2026-09-28	Deutsche Bank	“Buy” → “Hold” downgrade
2026-07-10	Citigroup	“Buy” → “Neutral” downgrade
2025-12-10	J.P. Morgan	“Neutral” → “Overweight” upgrade
2025-10-23	Freedom Capital Markets	“Buy” → “Hold” downgrade
2025-04-15	Bank of America	“Buy” → “Neutral” downgrade
2025-03-18	Barclays	“Overweight” → “Equal Weight” downgrade
2025-03-12	Jefferies	“Buy” → “Hold” downgrade
2025-02-07	CICC	“Outperform” → “Market Perform” downgrade
2024-12-12	Deutsche Bank	“Hold” → “Buy” upgrade

48 older than 24 months

2024-10-10	TD Cowen	“Buy” → “Hold” downgrade
2024-09-20	Morgan Stanley	“Overweight” → “Equal Weight” downgrade
2024-04-03	Argus Research	“Buy” → “Hold” downgrade
2024-03-18	Morgan Stanley	“Equal Weight” → “Overweight” upgrade
2024-02-12	Citigroup	“Neutral” → “Buy” upgrade
2023-12-19	J.P. Morgan	“Overweight” → “Neutral” downgrade
2023-10-19	DZ Bank	“Hold” → “Buy” upgrade
2023-07-17	Morgan Stanley	“Overweight” → “Equal Weight” downgrade
2023-03-20	Bernstein	“Underperform” → “Market Perform” upgrade
2022-02-15	DZ Bank	“Buy” → “Hold” downgrade
2021-07-14	Credit Suisse	“Outperform” → “Neutral” downgrade
2021-04-21	UBS	“Neutral” → “Buy” upgrade
2021-04-13	Wolfe Research	“Peer Perform” → “Perform” revised
2021-03-22	Barclays	“Equal Weight” → “Overweight” upgrade
2021-01-06	Evercore ISI	“Outperform” → “In Line” downgrade
2021-01-04	RBC Capital	“Outperform” → “Sector Perform” downgrade
2020-10-12	Citigroup	“Neutral” → “Buy” upgrade
2020-03-27	Credit Suisse	“Underperform” → “Outperform” upgrade
2020-03-23	Morgan Stanley	“Equal Weight” → “Overweight” upgrade
2020-03-20	Guggenheim	“Neutral” → “Buy” upgrade
2020-03-20	CFRA	“Buy” → “Strong Buy” upgrade
2020-03-17	Evercore ISI	“In Line” → “Outperform” upgrade
2019-12-16	Morgan Stanley	“Overweight” → “Equal Weight” downgrade
2019-04-18	Goldman Sachs	“Sell” → “Neutral” upgrade
2019-02-19	Macquarie	“Neutral” → “Outperform” upgrade
2018-10-05	Macquarie	“Outperform” → “Neutral” downgrade
2018-07-03	Deutsche Bank	“Buy” → “Hold” downgrade
2018-04-17	Goldman Sachs	“Neutral” → “Sell” downgrade
2018-02-14	Evercore ISI	“Outperform” → “In Line” downgrade
2017-10-02	Jefferies	“Buy” → “Hold” downgrade
2017-09-08	Credit Suisse	“Outperform” → “Neutral” downgrade
2017-06-07	BMO Capital	“Outperform” → “Market Perform” downgrade
2017-04-12	Susquehanna	“Neutral” → “Positive” upgrade
2016-04-14	Stifel	“Buy” → “Hold” downgrade
2016-02-26	Sterne Agee	“Buy” → “Neutral” downgrade
2016-02-26	Sterne Agee	“Buy” → “Neutral” downgrade
2015-11-23	Nomura	“Reduce” → “Neutral” upgrade
2015-07-13	Susquehanna	“Positive” → “Neutral” downgrade
2015-04-14	Susquehanna	“Positive” → “Outperform” revised
2014-08-11	UBS	“Neutral” → “Buy” upgrade
2014-08-05	Nomura	“Reduce” → “Sell” revised
2014-07-24	Stifel	“Hold” → “Buy” upgrade
2014-02-25	FirstEnergy Capital	“Market Perform” → “Perform” revised
2013-11-25	RBC Capital	“Sector Perform” → “Perform” revised
2013-04-12	Davenport	“Buy” → “Neutral” downgrade
2013-04-04	Credit Agricole	“Buy” → “Outperform” revised
2013-02-15	Credit Agricole	“Outperform” → “Buy” revised
2012-05-07	Morgan Stanley	“Equal Weight” → “Overweight” upgrade

Targets, grades and estimates are quoted from third parties (via Financial Modeling Prep) and are theirs, not ours; each target links to the report it was published in. A firm counts once, at its latest target or grade.