PepsiCo (PEP) earnings were better than
expected in the third quarter, but the rise in Latin American revenue came with
no thanks to Venezuela. The Venezuelan government recently confiscated
properties controlled by global importers including Pepsi and Nestle (NSRGY.
The problem: the low price of oil has decimated the country’s budget, and
social unrest — alongside food shortages — have become the norm ahead of a
December election. As for PepsiCo, here’s Citi’s Wendy Nicholson, Peter J. Chun
and Alexandra Crouse, who have a Buy rating on the stock. Shares are slightly
lower today to $99 and change; Citi analysts have a $103 price target on stock. More… 
Wednesday, October 14, 2015
Pepsi Says Goodbye To Venezuela
PepsiCo (PEP) earnings were better than
expected in the third quarter, but the rise in Latin American revenue came with
no thanks to Venezuela. The Venezuelan government recently confiscated
properties controlled by global importers including Pepsi and Nestle (NSRGY.
The problem: the low price of oil has decimated the country’s budget, and
social unrest — alongside food shortages — have become the norm ahead of a
December election. As for PepsiCo, here’s Citi’s Wendy Nicholson, Peter J. Chun
and Alexandra Crouse, who have a Buy rating on the stock. Shares are slightly
lower today to $99 and change; Citi analysts have a $103 price target on stock. More… 
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