Citi upgrades Pepsico following Q4 earnings beat: 4 big analyst picks
Investing.com | Author Davit Kirakosyan
Published Feb 13, 2024 03:50AM ET
Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades at Pepsico, Corteva , Trimble, and Fortinet.
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The analysts’ optimism stems from Corteva's 2024 earnings guidance surpassing expectations, combined with its reaffirmed EBITDA margin target of 21-23% for next year, highlighting the company's robust growth prospects. Additionally, a recent U.S. Court decision to vacate the EPA’s approvals of dicamba is expected to boost demand for Corteva's Enlist-based seed platforms and Enlist-branded herbicide, enhancing the company's earnings outlook.
More generally, CTVA’s relative outperformance versus peers in the Agriculture input space underscores the attractiveness of its seeds business vis-à-vis the crop protection chemicals most competitors are focused on, in our view.
Two more upgrades/h2
Piper Sandler upgraded Trimble (NASDAQ:TRMB) to Overweight from Neutral with a price target of $68.00 (from $51.00), following the company’s reported Q4 beat, which resulted in a stock price gain of more than 4% yesterday.
Daiwa Securities upgraded Fortinet (NASDAQ:FTNT) to Outperform from Neutral with a price target of $75.00 (from $62.00).
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Written By: Investing.com
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