Truist analyst Bill Chappell upgraded Keurig Dr Pepper to Hold from Sell with a price target of $34, up from $27. The firm believes its previously expressed concerns, including “overoptimistic expectations” for a rebound in the coffee segment, have played out and are reflected in the current valuation with the stock having underperformed the S&P 500 and XLP since Truist’s downgrade in November of 2022, the analyst tells investors.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KDP:
- Keurig Dr Pepper price target raised to $40 from $39 at UBS
- Keurig Dr Pepper price target raised to $41 from $39 at Wells Fargo
- Keurig Dr Pepper Strengthens National Direct-Store-Delivery Operations with Acquisition of Strategic Assets from Kalil Bottling Company
- Keurig Dr Pepper acquires strategic assets from Kalil Bottling Company, no terms
- Keurig Dr Pepper set to get caffeine boost, Barron’s says