Keurig Dr Pepper price target lowered to $37 from $40 at Bernstein

Bernstein lowered the firm’s price target on Keurig Dr Pepper to $37 from $40 and keeps an Outperform rating on the shares. Over the past few months, the relative premium of staples versus the market has “rapidly unwound,” the analyst tells investors in a research note. As such, the firm thinks the risk/reward for the group looks less negative than it has over most of the past few years.