Jefferies Downgrades Dr Pepper Snapple (DPS) to Hold Following Recent Merger

Jefferies downgraded Dr Pepper Snapple (NYSE: DPS) from Buy to Hold with a price target of $123.00 (from $115.00).

Analyst Kevin Grundy believes management's guidance leaves little room for error and sees integration risks on the horizon along with potential for the competitive environment in beverages to "heat up."

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 $115.51 yesterday.

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