Pod install displaying error in cocoapods version 1.0.0.beta.1

You have to specify a target for each pod.

e.g. if before you had your Podfile written like this:

pod 'Alamofire', '~> 3.1.4'
pod 'SwiftyJSON', '~> 2.3.2'

just change it to

target "TargetName" do
    pod 'Alamofire', '~> 3.1.4'
    pod 'SwiftyJSON', '~> 2.3.2'
end