Piper Sandler upgraded Keurig Dr Pepper (KDP) to Overweight from Neutral with a price target of $40, up from $35. The firm cites the company’s strong retail sales growth momentum in its U.S. Refreshment Beverages segment and an “impressive showing” in Piper’s spring 2025 teen survey for the upgrade. Dr Pepper is performing well in measured channels, boosted by Dr Pepper Blackberry, the analyst tells investors in a research note. Piper adds that Dr Pepper was teen’s favorite soda and beverage brand in it spring survey, “boding well for long-term share gains.”
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