PepsiCo is rated a notch below Coca-Cola, Keurig Dr Pepper, and Monster Beverage by Jefferies

Jefferies lowered its rating on PepsiCo (NASDAQ:PEP) on Wednesday after the food and beverage stock had recently gained amid renewed investor interest in consumer staples names in general.

Analyst Kaumil Gajrawala said the firm sees limited upside from PepsiCo’s (