Wells Fargo raised the firm’s price target on Keurig Dr Pepper (KDP) to $35 from $33 and keeps an Overweight rating on the shares. The firm believes debates will remain loud as it thinks the name has much to prove. With that said, Wells argues that Keurig Dr Pepper may intrigue just a touch more after solid core results, and a fresh financing that substantially reduces debt, a combination it sees bringing forward the company’s investment case several years.
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