BMO Capital analyst Amit Sharma upgraded Keurig Dr Pepper to Outperform from Market Perform and raised his price target for the shares to $34 from $27. The company's "widening valuation discount" relative to non-alcoholic beverage peers has "become too large to ignore," Sharma tells investors in a research note. Further, the analyst sees "high visibility" into Keurig Dr Pepper's "superior," mid-teens, earnings growth outlook in the next three years.
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