JPMorgan raised the firm’s price target on Keurig Dr Pepper to $41 from $40 and keeps an Overweight rating on the shares ahead of the Q1 results. The analyst believes the stock’s valuation discount to peers is too wide given the underlying resilience of the business. However, investors will likely need greater visibility to Coffee Systems volume re-acceleration for the valuation gap to begin to narrow, the analyst tells investors in a research note.
Published first on TheFly
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