UPDATE: Deutsche Bank Raises PT to $43 on Dr Pepper Snapple
Deutsche Bank maintains its Hold rating on Dr Pepper Snapple (NYSE: DPS) and raises its price target by $3 to $43 on execution.
Deutsche Bank says, "Despite tough US CSD volume trends following significant price realization and growing chatter around a market share cage match between Coke and Pepsi in the US, the company is doing exactly what they said they would do pushing incremental innovation, taking pricing, reducing costs and maximizing cash flow and returning it to shareholders with dividends and share repo. Still, we see the stock at the high end of a trading range, maintaining our Hold but raising price target to $43 (from $40) on higher estimates."
DPS closed at $39.90 a share on Wednesday.
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