Citi names Keurig Dr Pepper top pick in beverages, personal care

Citi analyst Filippo Falorni moved Keurig Dr Pepper (KDP) to the firm’s top pick in the beverages, household and personal care group, followed by Monster Beverage (MNST), Coca-Cola (KO), Boston Beer (SAM), Colgate-Palmolive (CL), and Coty (COTY). The intra-quarter commentary from large-cap companies was subdued with concerns around a slowing U.S. consumer, as well as a cautious tone on Latin America and Western Europe, the analyst tells investors in a research note. With a sector rotation to defensive sectors, Citi sees a difficult Q1 setup for the group, especially large-caps. The firm shifted preferences to names “that are posting better near-term trends, have idiosyncratic opportunities, and have a lower valuation level.”