Analyst Upgrades Keurig Dr Pepper to Outperform
Keurig Dr Pepper (NYSE: KDP) is off to a strong start after reporting robust sales growth in its first quarter and the likelihood that it will continue as the economy reopens. Robert Ottenstein at Evercore ISI upgraded the stock from in line to outperform based on this view and other considerations.
The beverage company released its first-quarter earnings report for the period ending March 31 on April 27 and it was a good one. While many retail companies have tanked altogether and other food companies showed losses, Keurig Dr Pepper, which has a highly diversified product line, reported a 4.4% increase in net sales to $2.61 billion. Adjusted earnings rose 16% to $0.29.
Source Fool.com
