Wells Fargo analyst Christopher Carey reiterated a Buy rating on Keurig Dr Pepper (KDP – Research Report) yesterday and set a price target of $40.00.
Christopher Carey has given his Buy rating due to a combination of factors that highlight Keurig Dr Pepper’s strong performance and potential for growth. The company has demonstrated resilience in a challenging macroeconomic environment, delivering a significant revenue beat and exceeding earnings per share expectations. Despite some softness in coffee volumes and international sales, the overall results were solid, with net sales growing by 6.4% excluding foreign exchange impacts, driven by a favorable volume and mix as well as price increases.
Moreover, Keurig Dr Pepper has maintained its revenue and profit guidance, which adds credibility to its performance amidst ongoing challenges such as tariffs and consumer pressures. The company’s strategic board changes, including the appointment of new independent members, also suggest a positive direction for governance and leadership. These factors, combined with a compelling valuation relative to its multi-year growth prospects, underpin Carey’s optimistic outlook and Buy rating for the stock.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $41.00 price target.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock.