Keurig Dr Pepper price target lowered to $33 from $41 at BofA

BofA lowered the firm’s price target on Keurig Dr Pepper (KDP) to $33 from $41 and keeps a Buy rating on the shares. Among the firm’s consumer staples coverage, BofA is “cutting estimates for topline and EPS almost universally” for Q3 with a few exceptions, the analyst tells investors in a preview for the packaged food, beverages, HPC and tobacco groups.