Goldman Sachs Upgrades Dr Pepper Snapple (DPS) to Neutral On Commodity Relief

Goldman Sachs upgraded Dr Pepper Snapple (NYSE: DPS) from Sell to Neutral with a price target of $41 (up from $40).

The firm said they no longer see EPS risk, as commodity relief should cushion competition and drive margin upside in 2012. The firm also said valuation is in-line with its historical average of 13x.

Goldman raised 2012E/2013E EPS estimates by $0.06/$0.05 to $2.95/$3.24 to reflect higher gross margins.

For an analyst ratings summary and ratings history on Dr Pepper Snapple click here. For more ratings news on Dr Pepper Snapple click here.

Shares of Dr Pepper Snapple closed at $38.76 yesterday, with a 52 week range of $33.68-$43.13.

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