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.
派傑投資分析師邁克爾·拉弗裏對Keurig Dr Pepper Inc（納斯達克：KDP）進行了覆蓋評級，給予中立評級，目標價爲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.
分析師針對持續的咖啡相關挑戰表達了謹慎態度，指出了銷售收入疲軟、咖啡原料成本近期上漲以及額外定價機會的不確定性。
Although the company has announced mid-single-digit pricing, coffee input costs continue to escalate, impacting margins, said the analyst.
儘管公司已宣佈中個位數的定價，但咖啡原料成本持續上漲，影響了利潤率，分析師說道。
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%.
分析師指出，美國清涼飲料在截至2024年最新的52週中零售銷售增長了5.8%，而其美國咖啡業務受到壓力，零售銷售下降了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.
儘管其美國清涼飲料（USRB）和國際業務表現強勁，公司仍面臨咖啡豆價格飆升的挑戰，咖啡豆價格已達到47年來的最高點，分析師表示。
KDP has been able to drive growth primarily through its USRB
KDP主要通過其USRB和國際業務推動增長。
and International segments, which solidly contributed to the company's EBIT growth in recent years.
這些業務在近年來對公司的息稅前利潤（EBIT）的增長做出了重要貢獻。
The analyst noted that the coffee segment has been underperforming, with its overall growth constrained by the rising costs of coffee beans.
分析師指出，咖啡業務表現不佳，其整體增長受到咖啡豆成本上升的制約。
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%.
分析師表示，收購能源飲料品牌Ghost 60%股權的交易預計將提供新的增長途徑，這幫助C4的市場份額上漲了超過1%。
However, the immediate outlook for margin expansion is challenged by coffee price pressures, warned the analyst.
然而，分析師警告，咖啡價格壓力對利潤擴張的短期前景構成挑戰。
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.
根據目前的公司估值，以16.0倍市盈率乘以其預計的2026年每股收益2.14美元，表明其目標價有11%的上漲空間，達到$35萬億.
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.
分析師表示，這一目標價仍低於其歷史五年平均水平，反映出咖啡業務表現和更廣泛市場條件的不確定性。
Price Action: KDP shares are trading lower by 0.85% at $30.82 at the last check Tuesday.
價格動態：截至週二最後一次檢查，KDP股票下跌0.85%，報30.82美元。
譯文內容由第三人軟體翻譯。
