With the consumer discretionary sector under pressure, PepsiCo is the only beverage stock that's a "buy," Stephen Powers of UBS said Monday.
A strong snack-foods business and pressure from activist investor Nelson Peltz are two major factors working in its favor, he said on CNBC's "Halftime Report."
"This is a tough environment for consumer stocks, and Pepsi's doing things that create opportunity for itself on its own right, independent of the environment in which it's operating, whereas a name like Coke, I see them kind of playing the same cards as they been playing for a couple of years," he said.
Powers holds a "buy" rating and a $100 price target on PepsiCo stock. (Disclosure: PepsiCo has been a client of UBS in the past 12 months.)