Barclays Maintains an 'Overweight' on Dr Pepper Snapple (DPS); Surprisingly Effervescent

Barclays maintains an 'Overweight' on Dr Pepper Snapple (NYSE: DPS), PT upped by $1 to $43.

Barclays analyst says, "We are partially flowing through the beat to our 1Q11 EPS estimate, while allowing for further strategic brand spending in 2H11 coupled with a still inflationary cost environment. Hence, our FY11 EPS estimate is now $2.75 (prior $2.70), while our FY12 EPS estimate goes to $3.00 (previous $2.95). On the top line, DPS proved to have better price/mix (a consolidated 2pp) than we had built in, while G&A controls and the lapping of transaction costs related to the Pepsi (NYSE: PEP) licensing agreements DPS proved to be more favorable than we forecasted on the cost side of the ledger."

For more ratings news on Dr Pepper Snapple click here and for the rating history of Dr Pepper Snapple click here.

Shares of Dr Pepper Snapple closed at $40.06 yesterday.

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