Jefferies lowered the firm’s price target on Keurig Dr Pepper to $35 from $37 and keeps a Buy rating on the shares. At-home coffee spending remains weak and “pinpointing the return to growth is no easy feat,” says the firm, which adds that “the weakness may stay for a while.” The firm lowered its Keurig coffee sales estimate to a 1.7% decline for FY24, the analyst noted.
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