UBS raised the firm’s price target on Keurig Dr Pepper to $40 from $39 and keeps a Buy rating on the shares. The latest data from the firm’s Global Coffee Consumption Survey suggests no meaningful change in trends for either the single-serve coffee or the brewer category, and the read-through to Keurig Dr Pepper is that the slow recovery is still in line with FY24 expectations, the analyst tells investors in a research note. The firm continues to believe the risk-reward for Keurig Dr Pepper skews favorably.
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