JPMorgan lowered the firm’s price target on Keurig Dr Pepper (KDP) to $32 from $36 and keeps an Overweight rating on the shares ahead of the Q1 report on April 23. The firm says the stock “remains in purgatory” due to deal complexity, integration risk, and the planned separation. JPMorgan still sees “significant value” in Keurig, but says investors continue to focus on “cleaner” stories within staples. It expects the company’s beverage momentum to continue in Q1 and for coffee to have a “tough” quarter.
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Read More on KDP:
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