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DPS

Ticker changed to KDP

$117.65

0.06 (0.05%)

18:07
03/13/18
03/13
18:07
03/13/18
18:07

Major Dr Pepper Snapple holder could sell prior to Keurig merger, Reuters says

One of Dr Pepper Snapple's largest shareholders said it may sell its stake in the company ahead of a proposed merger with Keurig Green Mountain, questioning the logic of the deal, Reuters reports. In a letter to investors, Michael Lindsell, co-founder of London-based Lindsell Train, Dr Pepper Snapple's 9th largest shareholder, said he was considering selling the firm's stake valued at more than $380M, according to Reuters calculations. Reference Link

DPS Ticker changed to KDP
$117.65

0.06 (0.05%)

02/16/18
02/16/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Biogen (BIIB) downgraded to Hold from Buy at Argus with analyst David Toung citing increased competition for the company's multiple sclerosis drugs, anticipating related sales to slow from the fourth quarter when results were boosted by "one-time factors." 2. Omnicom (OMC) downgraded to Sector Perform from Outperform at RBC Capital with analyst Steven Cahall downgraded Omnicom (OMC) to Sector Perform from Outperform and lowered his price target to $83 from $87. Cahall says the weaker than expected Q4 organic growth and soft FY18 outlook demonstrates the "opacity facing the industry". The analyst adds that he was hopeful to see more visibility into earnings growth by now. 3. Allison Transmission (ALSN) was downgraded to Sector Perform at RBC Capital and to Underweight from Neutral at JPMorgan. 4. Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Jefferies with analyst Kevin Grundy saying the post-merger guidance "leaves little room for error" and the competitive environment in beverages is likely to "heat up." 5. Kimco Realty (KIM) downgraded to Neutral from Buy at BofA/Merrill with analyst Craig Schmidt saying he came away from earnings cautious on Kimco's weaker 2018 same-store NOI growth outlook of 1.25%-2%, the midpoint being the lowest since the recession, and 300M share repurchase program given the company's already high leverage and need to fund developments. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/16/18
JEFF
02/16/18
DOWNGRADE
Target $123
JEFF
Hold
Dr Pepper Snapple downgraded to Hold from Buy at Jefferies
Jefferies analyst Kevin Grundy downgraded Dr Pepper Snapple to Hold while raising his price target for the shares to $123 from $115. The post-merger guidance "leaves little room for error" and the competitive environment in beverages is likely to "heat up," Grundy tells investors in a research note. The analyst also sees integration risk.
02/06/18
LEHM
02/06/18
UPGRADE
Target $130
LEHM
Overweight
Dr Pepper Snapple upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Lauren Lieberman upgraded Dr Pepper Snapple Group to Overweight and raised her price target for the shares to $130 from $88. The analyst sees upside to cost savings and cash generation targets for the new business following the merger with Keurig. She believes the combined entity is being undervalued.
02/01/18
BMOC
02/01/18
DOWNGRADE
Target $125
BMOC
Market Perform
Dr Pepper Snapple downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Amit Sharma downgraded Dr Pepper Snapple to Market Perform from Outperform but also raised his price target to $125 from $105. Sharma points to the additional disclosures of the Keurig Green Mountain merger, which suggest to him that EBITDA and annualized growth rate estimates will be below the company's 2021 outlooks. Despite the limited upside for Keurig, the analyst still contends that the combined company can execute on its cost agenda, generate revenue synergies, and is now "better positioned to acquire faster growing partner brands."

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