Pepsi raised to positive vs neutral by Susquehanna analyst Pablo Zuanic, citing possibility for Kraft Heinz to team up with AB InBev to bid for Pepsi after Unilever rejected KHC’s bid.
Also says PEP beverages fit better with BUD than Coca-Cola would as bottling operations remain under PEP ownership. Sees PEP “struggling to set a new direction” and therefore more vulnerable than Mondelez and Kraft Heinz Food bid.
On US pre-market shares of Pepsi raised whit 0.6%. After starting US stock session the company rose to $132 from $118. Kraft Heinz also rose after start on US stock session to $103 from $91.
Source: Bloomberg
Jr Trader Petar Milanov
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