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Wells Fargo Downgrades Dr Pepper Snapple (DPS) to Market Perform; Deal Positive But Struggles with Strategic Rationale
January 30, 2018 7:22 AM ESTWells Fargo downgraded Dr Pepper Snapple (NYSE: DPS) from Outperform to Market Perform with a price target of $124.00 (from $112.00) after the company and Keurig Green Mountain entered into an agreement that creates a new beverage company with ~$11B in combined revs Keurig Dr Pepper.
Analyst Bonnie Herzog believes the deal values DPS shares at $124/share (incl. a $103.75/shr special cash... More
