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Pepsi Lacks Catalysts; Stifel Cuts To Hold

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PepsiCo, Inc. PEP 0.63% shares have surged 3 percent since March 15. Stifel’s Mark D. Swartzberg downgraded the rating for the company from Buy to Hold, while removing the price target. The analyst cited valuation and the potential lack of structural or growth-related catalysts as the reasons for the downgrade.

PepsiCo’s shares are trading 2 percent below...