RBC Capital keeps an Outperform rating and $41 price target on Keurig Dr Pepper (KDP) ahead of its Q3 results. The firm expects the company to post a “solid” quarter with sequential organic growth improvement driven by outperformance in coffee and slight pressure on U.S. Refreshment Beverages, the analyst tells investors in a research note. RBC adds that tracked channel data shows notable improvement in Keurig Dr Pepper coffee pod volumes and generally stable beverage trends.
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