Despite more than a 30% rise since the March lows of this year, at the current price of $136 per share, we believe PepsiCo stock (NASDAQ: PEP) is still a good opportunity for investors. PEP stock has increased from $104 to $135 off the recent bottom, less than the S&P which increased by 50% from its recent lows. Even though the stock is around 23% above the level at which it was at the end of 2017, it is still lower than its pre-Covid (February 2020) high of $147. We believe that PEPâs stock could rise over 10% from its current level, driven by expectations of rising demand and easing of supply constraints following the gradual lifting of lockdowns and benefits from recent acquisitions. Our dashboard What Factors Drove 23% Change In PepsiCo Stock Between 2017 And Now? has the underlying numbers behind our thinking.
Some of the sharp stock