Jefferies lowered the firm’s price target on Keurig Dr Pepper to $35 from $37 and keeps a Buy rating on the shares. At-home coffee spending remains weak and “pinpointing the return to growth is no easy feat,” says the firm, which adds that “the weakness may stay for a while.” The firm lowered its Keurig coffee sales estimate to a 1.7% decline for FY24, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KDP:
- Keurig Dr Pepper backs FY24 adjusted EPS growth of high single digits
- Keurig Dr Pepper announces upcoming Keurig brewer and K-Cup pod offerings
- Keurig Dr Pepper price target lowered to $32 from $34 at Barclays
- Fly Insider : Echostar, Dell among week’s notable insider trades
- Keurig Dr Pepper 87M share Block Trade priced at $29.10
