Keurig Dr Pepper price target raised to $35 from $32 at TD Cowen

TD Cowen raised the firm’s price target on Keurig Dr Pepper to $35 from $32 and keeps a Hold rating on the shares. The firm said the company reiterated its outlook for MSD sales growth and HSD EPS growth and emphasized the importance of reinvestment. Also, coffee trends improved sequentially with volume expected to turn positive in back-half of the year.