<p>在週二，<strong>百事</strong>(PEP -2.69%) 並沒有給其股東帶來太多甜蜜的興奮感。這並不是公司的直接過錯，因為股價下跌的主要原因是分析師的評級下調。這使得股價下跌近 3%，明顯高於 <strong>標準普爾 500 指數</strong>(^GSPC -0.17%) 的 0.2% 的跌幅。</p>
<h2>一家大型貸款機構表示現在持中立態度</h2>
<p>下調評級的研究者是美國頂級貸款機構 <strong>美國銀行</strong> 的分析師 Bryan Spillane。他將對百事的評級從買入調整為中立，並將目標股價從 185 美元下調至 155 美元。</p>
<p>據報道，Spillane 特別關注公司業務的重要支柱。他寫道，百事專注於飲料和零食（與僅專注於飲料的競爭對手 <strong>可口可樂</strong> 不同），在後者類別中市場份額正在下降。</p>
<p>具體來説，Spillane 寫道，百事的 Frito-Lay 零食產品是一個薄弱環節。這些商品的價格已經上漲；然而，這影響了銷售量。同時，許多消費者已經開始削減對非必需品如零食的消費。</p>
<p>分析師補充説，這一問題還受到飲料部門缺乏活力的影響，公司在當前流行的細分市場如風味碳酸飲料、能量飲料和低糖產品中競爭力不足。</p>
<h2>交易者面臨艱難時刻</h2>
<p>除了 Spillane 令人信服的論點外，我們還可以將貿易戰的不確定性加入到百事的困境中。如果我們與各個貿易伙伴的關税爭端持續很長時間，可能會推高在美國仍然生產商品的公司的投入成本——例如這家飲料和零食巨頭。</p>
<p>鑑於公司目前面臨的顯著逆風，作為股票的吸引力似乎並不大。</p>

百事

<p>百事的股票在美銀分析師 Bryan Spillane 下調評級後下跌近 3%。Spillane 將其推薦從買入調整為中性，並將目標價從 185 美元下調至 155 美元。他提到對百事在零食領域，特別是 Frito-Lay 的市場份額下降的擔憂，以及在飲料市場缺乏競爭力。此外，持續的貿易戰不確定性可能會增加投入成本，使得該股票對投資者的吸引力降低</p>

<p>On Tuesday, <strong>PepsiCo</strong>(PEP -2.69%) didn't provide much of a sugary, caffeinated buzz for its shareholders. It wasn't directly the company's fault, as the key reason for the dip was an analyst's recommendation downgrade. This pushed the stock down by nearly 3% in price, a notably steeper drop than the 0.2% decline of the <strong>S&amp;P 500</strong>(^GSPC -0.17%).</p>
<div class="lb-trans"><p>在週二，<strong>百事</strong>(PEP -2.69%) 並沒有給其股東帶來太多甜蜜的興奮感。這並不是公司的直接過錯，因為股價下跌的主要原因是分析師的評級下調。這使得股價下跌近 3%，明顯高於 <strong>標準普爾 500 指數</strong>(^GSPC -0.17%) 的 0.2% 的跌幅。</p>
</div><h2>A big lender says it's now neutral</h2>
<div class="lb-trans"><h2>一家大型貸款機構表示現在持中立態度</h2>
</div><p>The researcher behind the downgrade was top U.S. lender <strong>Bank of America</strong>, in the person of pundit Bryan Spillane. He changed his view of PepsiCo from buy to neutral, and cut his price target to $155 per share from his former level of $185.</p>
<div class="lb-trans"><p>下調評級的研究者是美國頂級貸款機構 <strong>美國銀行</strong> 的分析師 Bryan Spillane。他將對百事的評級從買入調整為中立，並將目標股價從 185 美元下調至 155 美元。</p>
</div><p>According to reports, Spillane was particularly concerned about an important pillar of the company's business. He wrote that PepsiCo, which specializes in both beverages and snacks (unlike its drinks-only archrival <strong>Coca-Cola</strong>) is suffering from market share declines in the latter category.</p>
<div class="lb-trans"><p>據報道，Spillane 特別關注公司業務的重要支柱。他寫道，百事專注於飲料和零食（與僅專注於飲料的競爭對手 <strong>可口可樂</strong> 不同），在後者類別中市場份額正在下降。</p>
</div><p>Specifically, Spillane wrote that PepsiCo's Frito-Lay snack products were a weak spot. Prices for these goods were raised; however, this affected sales volume. Meanwhile, many consumers have been cutting back on nonessential items like snack products.</p>
<div class="lb-trans"><p>具體來説，Spillane 寫道，百事的 Frito-Lay 零食產品是一個薄弱環節。這些商品的價格已經上漲；然而，這影響了銷售量。同時，許多消費者已經開始削減對非必需品如零食的消費。</p>
</div><p>The analyst added that this is compounded by a lack of dynamism in the drinks segment, where the company hasn't been competitive in currently popular segments such as flavored, carbonated soft drinks; energy beverages; and low-sugar offerings.</p>
<div class="lb-trans"><p>分析師補充説，這一問題還受到飲料部門缺乏活力的影響，公司在當前流行的細分市場如風味碳酸飲料、能量飲料和低糖產品中競爭力不足。</p>
</div><h2>Tough times for traders</h2>
<div class="lb-trans"><h2>交易者面臨艱難時刻</h2>
</div><p>On top of Spillane's convincing argument, we can add trade war uncertainty into the mix for PepsiCo. If our current tariff spat with various trading partners drags on for a long time, it could drive up the input costs for companies in this country that still make things -- such as this drinks and snacks giant.</p>
<div class="lb-trans"><p>除了 Spillane 令人信服的論點外，我們還可以將貿易戰的不確定性加入到百事的困境中。如果我們與各個貿易伙伴的關税爭端持續很長時間，可能會推高在美國仍然生產商品的公司的投入成本——例如這家飲料和零食巨頭。</p>
</div><p>Given the company's notable headwinds these days, it doesn't seem very appealing as a stock at the moment.</p>
<div class="lb-trans"><p>鑑於公司目前面臨的顯著逆風，作為股票的吸引力似乎並不大。</p>
</div>

為什麼百事公司的股票今天大跌