PepsiCo, Inc. (NASDAQ:PEP) on Thursday reported mixed second-quarter results.

Net revenue rose 6.4% year over year to $24.18 billion, beating the $23.96 billion analyst estimate. Core EPS increased 4% to $2.20, missing the $2.21 estimate, while GAAP EPS rose 137% to $2.18.

PepsiCo anticipates higher input cost inflation in the second half of 2026. PepsiCo reaffirmed its fiscal 2026 guidance, projecting organic revenue growth of 2% to 4% and core constant currency EPS growth of 4% to 6%.

PepsiCo shares fell 0.6% to $137.10 in pre-market trading.

These analysts made changes to their price targets on PepsiCo following earnings announcement.

  • Citigroup analyst Filippo Falorni downgraded the stock from Buy to Neutral and lowered the price target from $170 to $145.
  • Wells Fargo analyst Chris Carey maintained the stock with an Equal-Weight rating and lowered the price target from $150 to $140.

Considering buying PEP stock? Here’s what analysts think:

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