What is JPMorgan's new rating for PepsiCo stock?

JPMorgan has upgraded PepsiCo's stock rating to 'overweight' from 'neutral'.

What is JPMorgan's price target for PepsiCo stock?

JPMorgan's price target for PepsiCo stock is $164 by December 2026.

What factors are driving PepsiCo's expected earnings growth?

Expected earnings growth is driven by aggressive productivity targets, innovation, marketing spending, and improving consumption trends.

Home / Business and Economy / PepsiCo Stock Gets JPMorgan Upgrade to Overweight

PepsiCo Stock Gets JPMorgan Upgrade to Overweight

10 Dec, 2025

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Summary

JPMorgan upgraded PepsiCo shares to overweight from neutral.
The bank raised its price target to $164 for December 2026.
Analyst sees mid- to high-single digit earnings growth next year.

JPMorgan has shifted its stance on PepsiCo, upgrading the company's stock to an "overweight" rating from "neutral." This move reflects increased confidence in the food and beverage giant's future performance. Alongside the rating change, JPMorgan also raised its December 2026 price target for PepsiCo shares to $164, suggesting a potential 13% increase from current levels.

Analyst Andrea Teixeira highlighted that PepsiCo is poised for mid- to high-single digit earnings growth in the upcoming year. This projection is underpinned by more ambitious productivity goals and a strengthening top line. The analyst believes that these enhanced productivity measures will enable greater reinvestment, ultimately leading to improved profitability and higher total shareholder returns.