Goldman Sachs cuts target for PepsiCo stock to USD 165

Published on 10/09/2026 at 15:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue hit USD 25.27 billion in the third quarter, up 5.60 percent. PepsiCo stock costs EUR 113.93 on October 9, 2026 after EUR 114.42.

Key points in brief

Goldman Sachs lowered its PepsiCo target from USD 180 to USD 165 while maintaining a Buy rating on October 9, 2026.
PepsiCo reported third-quarter 2026 revenue of USD 25.27 billion, up 5.60 percent year over year.
The Lang & Schwarz quote was EUR 113.93 on October 9, 2026 at 3:19 p.m. CEST, down 0.43 percent versus EUR 114.42.
Fiscal 2026 core earnings per share growth guidance was reduced to 2.50 to 3.50 percent from 5.00 to 7.00 percent.

Aquarellillustration von Snackchips und Crackern aus einer schlichten Papiertüte neben einem Glas Eisgetränk in warmen Pastelltönen, weiches Wasserfarben-Papier sichtbar — PepsiCo US7134481081 als Aquarellillustration mit anonymen Snacks und Erfrischungsgetränk auf texturiertem hellem Papier, Illustration mit AI erstellt.

PepsiCo (ISIN US7134481081) was trading at EUR 113.93 at Lang & Schwarz on October 9, 2026 at 3:19 p.m. CEST, down 0.43 percent from the prior close. According to Asianet Newsable on October 9, 2026, Goldman Sachs lowered its PepsiCo price target from USD 180 to USD 165 while retaining a Buy rating.

Goldman Sachs trims its target

The target reduction came alongside a more cautious view of margins, even as PepsiCo delivered stronger third-quarter sales. The report said Goldman Sachs sees longer-term organic sales growth in the mid-single digits, while rising costs and beverage execution remain near-term constraints.

PepsiCo's stock context is separate from the euro quote: the finance quote showed a USD 123.47 to USD 171.48 52-week range for the primary listing as of October 8, 2026. The same data showed a USD 175.3 billion market capitalization.

Third-quarter growth meets lower guidance

According to PepsiCo in its October 8, 2026 release, third-quarter GAAP revenue rose 5.60 percent year over year to USD 25.274 billion. GAAP operating profit increased 19.00 percent to USD 4.260 billion, while diluted earnings per share rose 17.00 percent to USD 2.23 from USD 1.90.

The release also showed a split result beneath the headline growth. Core operating profit increased 3.00 percent to USD 4.277 billion, but core operating margin contracted 0.40 percentage points to 16.90 percent, with tariff refunds contributing 4 percentage points to the core result.

What does the margin signal?

PepsiCo's updated fiscal 2026 outlook calls for core earnings per share growth of 2.50 to 3.50 percent, compared with the previous range of 5.00 to 7.00 percent. Net revenue growth guidance was set at 6.00 percent, versus the earlier range of 4.00 to 6.00 percent, making the margin and investment trade-off central to the stock's earnings debate.

PepsiCo stock remains below its prior close

At Lang & Schwarz, PepsiCo stock stood at EUR 113.93 in trading on October 9, 2026 at 3:19 p.m. CEST, versus the EUR 114.42 prior close of October 8, 2026. The Nasdaq listing is PEP, and PepsiCo is included in the S&P 500 and Nasdaq 100.

The further course of trading is shown by the continuously updated real-time quote of PepsiCo stock.