PepsiCo (PEP): BNP Paribas Cuts Price Target to $161

Font: Financial Modeling Prep  • Sep 23, 2026

PepsiCo, Inc. (NASDAQ: PEP): BNP Paribas Cuts Price Target to $161

• Analyst update: BNP Paribas lowered its price target for PepsiCo, Inc. (NASDAQ: PEP) from $183 to $161 on September 23, 2026, while maintaining its Outperform rating.
• Potential upside: Compared with PepsiCo’s September 22 closing price of $131.19, the revised target implies approximately 22.7% price upside. That is an analyst projection, not a guaranteed return.
• Dividend record: PepsiCo announced its 54th consecutive annual dividend increase in 2026, supporting its classification as a Dividend King.

PepsiCo, Inc. (NASDAQ: PEP) sells beverages and convenient foods worldwide. On September 23, 2026, BNP Paribas reduced its price target to $161 from $183, while keeping its Outperform rating. The firm cited persistent demand challenges in North America among its concerns.

PepsiCo shares closed at $131.19 on September 22, before the target change was reported. The difference between that closing price and the new target is about 22.7%.  The shares were trading near their 52-week low of $127.98, compared with a 52-week high of $171.48. A lower share price or a target above it does not, by itself, establish that the stock is undervalued; the reduced target reflects the analyst’s more cautious outlook.

PepsiCo’s dividend remains a distinct part of the investment picture. In July, the company declared a $1.48 quarterly dividend and said 2026 marked its 54th consecutive annual dividend increase. Investors assessing the stock should weigh that record alongside the demand concerns behind the latest target cut.