Buy Dr Pepper Snapple (DPS) on Bai Sale Weakness - Stifel
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Stifel analyst Mark Swartzberg notes weakness in Dr Pepper Snapple (NYSE: DPS) (-4.1%) is related to news reports that DPS "allied brand" Bai is pursuing a sale. DPS distributes Bai and other allied brands (e.g., FIJI, AriZona tea, Vita Coco) in exchange for minority interests.
Swartzberg would consider today's weakness as a buying opportunity. "Shares have fallen by more than the value of the loss (i.e., we estimate $0.14 in potential lost earnings, or $3.01 in per share value)," he said.
The firm reiterated a Buy rating and price target of $102 on DPS.
Shares of Dr Pepper Snapple closed at $90.76 yesterday.
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