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J.P. Morgan downgraded PepsiCo as weakness in its North American snack business threatens to keep pressure on growth estimates.
JPMorgan expects PepsiCo to lean more heavily on productivity in the fourth quarter to deliver its earnings guidance.
JPMorgan Chase & Co. downgraded PepsiCo from an "overweight" rating to a "neutral" rating and set a $138.00 target price on the stock. in a research report on Tuesday.