Keurig Dr Pepper price target lowered to $33 from $35 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Keurig Dr Pepper to $33 from $35 and keeps a Neutral rating on the shares after its Q3 results and affirmed FY23 guidance. Despite increasing investor concern over slowing coffee scanner data into the print, the company’s Q3 results were “broadly better than feared”, with a slight top and bottom line beat, the analyst tells investors in a research note. A lot is still riding on Q4 results, which faces a tough y/y compare, though the management sounded confident on their ability to deliver on FY23 guidance, the firm added.