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Why All Those Potato Chips You Are Eating Could Send Pepsi's Stock Much Higher

Snacks make up about half of PepsiCo Inc.'s (PEP) portfolio, and that is likely to continue to help boost the stock amid general sluggishness in food aisles across America.

The snacks portfolio is growing 5%-6% globally, compared to just 2% growth in the beverage portfolio, Jefferies analyst Kevin Grundy wrote in a note Thursday. The snacks business is also profitable: its Ebitda (earnings before interest, taxed, depreciation and amortization) margins of 25% exceed the sector-wide average...