** PepsiCo PEP.O will cut prices on core brands such as Lay's and Doritos by up to 15% following a consumer backlash against several previous price hikes, the snacks and beverage maker said on Tuesday after it topped estimates for fourth-quarter results

** Median PT of 25 brokerages covering the stock is $165 - LSEG data

SNACK COMEBACK IN THE MAKING

** J.P. Morgan ("overweight," PT: $176) says that while it understands the bearish view after the long slump in snacks, it sees early signs of improvement heading into 2026; adds that co now has a more credible plan and is executing with greater urgency, though the benefits will take time

** RBC Capital Markets ("sector perform," PT: $156) says although the U.S. market is still challenging, signs of improvement, along with PEP's affordability efforts, innovation, and shelf‑space gains support a more constructive view on the food business

** Morgan Stanley ("equal weight," PT: $180) says PEP is taking aggressive actions in Frito‑Lay North America (FLNA), cutting prices, relaunching brands, and shifting to natural ingredients; notes that co is set to gain more shelf space in 2026 as retailers respond to these moves

** Morningstar (fair value: $166) expects the shift to simpler, higher‑quality ingredients, healthier cooking methods, and added protein and fiber will appeal to snack consumers; says that recent price cuts and more multi‑pack options should help the company's snacks attract cautious shoppers

(Reporting by Akriti Shah in Bengaluru)

((akriti.shah@thomsonreuters.com))