PepsiCo(US:PEP) 智通财经网·2025-09-29 08:41Core Viewpoint - Bank of America maintains a "neutral" rating for PepsiCo (PEP.US) with a target price of $150, citing that profit pressures are offset by lower company expenses and tax rates [1] Group 1: Financial Performance - Bank of America forecasts earnings per share for Q3 FY2025 at $2.26, slightly below the Visible Alpha average of $2.27, while updating its model to reflect a decline in gross margin due to tariff impacts [2] - The overall organic sales growth forecast for PepsiCo has been revised down from 2.0% to 1.8% for Q3 FY2025, primarily due to weather issues in Mexico, Brazil, and India [2] - Despite the adjustments, further revisions to sales or earnings per share seem unlikely as the quarter appears to perform as expected [2] Group 2: Sales and Market Trends - Nielsen data indicates that PepsiCo's sales for Q3 FY2025 show little change compared to the first half and Q2, with sales affected by unfavorable comparisons to the July 4 promotional activities in 2024 [3] - The mid-tier price range brands are experiencing a significant decline in year-over-year sales, while high-end brands are performing strongly [3] - In the North American beverage sector, zero-sugar products are performing well, but brands like "Mountain Dew" are still declining in sales [3]