PepsiCo, Inc. (NYSE:PEP) is one of the top percentage gainer in the few minutes of opening trade. The stock jumped up 3.50% to $60.45 with a huge volume of 1.60 million shares . The stock has notched 15% in the last six months of trade. Deutsche Bank maintains a 'Buy;' on PepsiCo (NYSE: PEP), raises price target from $66 to $70.
Deutsche analyst says, "S4 documents released last night support a constructive view of merger timing, while pro-forma financials imply lower interest expense and depreciation than we had modeled. Lifting 2010 forecast $0.04 higher to $4.20, with potential for both currency tailwind, and lower input costs to support further positive revisions. PEP shares have lagged owing to deal unwarranted deal overhang in our view. And the quarter looks fine."
PepsiCo, Inc. (PepsiCo) is a global beverage, snack and food company. The Company manufactures, markets and sells a range of salty, convenient, sweet and grain-based snacks, carbonated and non-carbonated beverages and foods approximately 200 countries, with its operations in North America, Mexico and the United Kingdom.
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