TD Cowen analyst Robert Moskow maintained a Hold rating on Keurig Dr Pepper today and set a price target of $32.00.
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Robert Moskow has given his Hold rating due to a combination of factors related to Keurig Dr Pepper’s recent strategic moves and financial adjustments. The company has made efforts to improve the terms of its JDEP acquisition by reducing leverage and initiating a search for a new CEO for its Global Coffee division. While these steps are positive, Moskow remains cautious about the overall appeal of the Global Coffee business, which tempers his enthusiasm for a stronger rating.
Additionally, the involvement of Apollo and KKR in significant investments through a joint venture and convertible preferred stock introduces some complexity. Although these investments are structured to provide returns and manage financial leverage without excessive shareholder dilution, the long-term impact remains uncertain. The company’s proactive approach to addressing investor concerns and governance issues is commendable, but Moskow’s Hold rating reflects a balanced view of potential risks and rewards in the current scenario.
Moskow covers the Consumer Defensive sector, focusing on stocks such as Clorox, Kraft Heinz, and PepsiCo. According to TipRanks, Moskow has an average return of 3.2% and a 46.44% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $32.00 price target.