PepsiCo Added to Goldman’s “Convicition Buy” List (PEP)

Soft drink and snack food giant PepsiCo, Inc. ( PEP ) saw its shares added to Goldman Sachs’ prestigious “Conviction Buy” List on Wednesday. The analyst also set a new $76 price target on Pepsi stock, which represents a 17% upside to Tuesday’s closing price of $66.55. Goldman cited the company’s accelerating earnings in the second half of 2010, as well as its strong growth potential over the next few years. PepsiCo shares rose $1.19, or +1.8%, in premarket trading Wednesday. The Bottom Line We have been recommending shars of PEP since July 30, when the stock was trading at $56.33. The company has a 2.89% dividend yield, based on last night’s closing stock price of $66.55. PepsiCo, Inc. ( PEP ) is a “recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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PepsiCo Added to Goldman’s “Convicition Buy” List (PEP)

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