Keurig Dr Pepper Faces Coffee Headwinds, Potential In Energy Drink, Says Analyst
Keurig Dr Pepper Faces Coffee Headwinds, Potential In Energy Drink, Says Analyst
The analyst noted that the U.S. Refreshment Beverages had +5.8% U.S. measured retail sales growth in the latest 52 weeks 2024TD, while its U.S. Coffee segment is pressured, with retail sales down 4.3%.Piper Sandler analyst Michael Lavery initiated coverage on Keurig Dr Pepper Inc (NASDAQ:KDP) with a Neutral rating and a $35.00 target price.
派杰投资分析师迈克尔·拉弗里对Keurig Dr Pepper Inc（纳斯达克：KDP）进行了覆盖评级，给予中立评级，目标价为35.00美元。
The analyst voiced caution regarding ongoing coffee-related challenges, citing sluggish top-line momentum, recent spikes in coffee input costs, and uncertainty surrounding additional pricing opportunities.
分析师针对持续的咖啡相关挑战表达了谨慎态度，指出了销售收入疲软、咖啡原料成本近期上涨以及额外定价机会的不确定性。
Although the company has announced mid-single-digit pricing, coffee input costs continue to escalate, impacting margins, said the analyst.
尽管公司已宣布中个位数的定价，但咖啡原料成本持续上涨，影响了利润率，分析师说道。
The analyst noted that the U.S. Refreshment Beverages had +5.8% U.S. measured retail sales growth in the latest 52 weeks 2024TD, while its U.S. Coffee segment is pressured, with retail sales down 4.3%.
分析师指出，美国清凉饮料在截至2024年最新的52周中零售销售增长了5.8%，而其美国咖啡业务受到压力，零售销售下降了4.3%。
Despite strong performance in its U.S. Refreshment Beverages (USRB) and International segments, the company faces challenges due to the surge in coffee bean prices, which have risen to a 47-year high, asserted the analyst.
尽管其美国清凉饮料（USRB）和国际业务表现强劲，公司仍面临咖啡豆价格飙升的挑战，咖啡豆价格已达到47年来的最高点，分析师表示。
KDP has been able to drive growth primarily through its USRB
KDP主要通过其USRB和国际业务推动增长。
and International segments, which solidly contributed to the company's EBIT growth in recent years.
这些业务在近年来对公司的息税前利润（EBIT）的增长做出了重要贡献。
The analyst noted that the coffee segment has been underperforming, with its overall growth constrained by the rising costs of coffee beans.
分析师指出，咖啡业务表现不佳，其整体增长受到咖啡豆成本上升的制约。
According to the analyst, the deal to acquire a 60% stake in energy drink brand Ghost is expected to provide a new growth avenue, which helped boost C4's market share by over 1%.
分析师表示，收购能源饮料品牌Ghost 60%股权的交易预计将提供新的增长途径，这帮助C4的市场份额上涨了超过1%。
However, the immediate outlook for margin expansion is challenged by coffee price pressures, warned the analyst.
然而，分析师警告，咖啡价格压力对利润扩张的短期前景构成挑战。
The company's current valuation, based on a 16.0x P/E multiple to its projected 2026 earnings per share of $2.14, suggests an 11% upside to its $35 target.
根据目前的公司估值，以16.0倍市盈率乘以其预计的2026年每股收益2.14美元，表明其目标价有11%的上涨空间，达到$35万亿.
This target price remains below its historical five-year average, said the analyst, reflecting the uncertainty in the coffee segment's performance and the broader market conditions.
分析师表示，这一目标价仍低于其历史五年平均水平，反映出咖啡业务表现和更广泛市场条件的不确定性。
Price Action: KDP shares are trading lower by 0.85% at $30.82 at the last check Tuesday.
价格动态：截至周二最后一次检查，KDP股票下跌0.85%，报30.82美元。
