After Keurig Dr Pepper (KDP) announced an agreement to acquire JDE Peet’s for EUR 31.85 per share in cash, Jefferies analyst Kaumil Gajrawala calls this “a good deal” given the view that a globally diversified operation “makes sense” with the coffee category innovating, and thus fragmenting, in formats and channels and the view that a standalone beverage business is likely to trade at a higher multiple. The firm has a Buy rating and $41 price target on Keurig Dr Pepper shares.
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