JDE Peet’s NV, the Consumer Defensive sector company, was revisited by a Wall Street analyst today. Analyst Feng Zhang from Jefferies downgraded the rating on the stock to a Hold and gave it a €31.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Feng Zhang has given his Hold rating due to a combination of factors, primarily revolving around the recent developments concerning JDE Peet’s NV. The company’s stock price has reached a level that reflects its full value, especially after the cash offer from Keurig Dr Pepper (KDP) at €31.85 in August. This offer has significantly influenced the current valuation of the stock, leading to a reassessment of its potential upside.
Additionally, Zhang has adjusted the target price to €31, taking into account some moderate risks associated with the execution of the deal and the anticipated timeline for its completion, which is expected to take approximately six months. Despite the reaffirmation of progress by both KDP and JDE Peet’s in September, the analyst perceives limited room for further appreciation in the stock price, thus justifying the Hold rating.