Keurig Dr Pepper price target lowered to $37 from $38 at Barclays

Barclays analyst Lauren Lieberman lowered the firm’s price target on Keurig Dr Pepper to $37 from $38 and keeps an Overweight rating on the shares. The analyst believes the macro backdrop and/or relative valuations “present a difficult investment landscape” within U.S. consumer staples heading into the Q2 reports. Food valuations appear attractive, though the fundamentals largely do not, the analyst tells investors in a research note. The firm says it “feels difficult to find pockets of meaningful upside potential at either end of the spectrum right now.”