NEW YORK (TheStreet) -- BMO Capital Markets raised its price target for Dr Pepper Snapple Group undefinedto $90 from $80 on Monday, after the beverage company's 2015 third quarter earnings results exceeded analysts' expectations.
The firm maintained its "market perform" rating on the stock.
Dr Pepper Snapple reported earnings of $1.08 per share on $1.63 billion in revenue last week.
Analysts surveyed by Thomson Reuters projected earnings of 98 cents per share on revenue of $1.52 billion for the most recent quarter.
Dr Pepper Snapple's earnings reflect "the underlying strength of its highly predictable operating model in the current environment," BMO Capital said, adding that this was the 11th consecutive quarter that the company beat expectations.
"The company continue to make prudent investments in smaller brands (e.g., Body Armor, Bai5, Vita Coca, AriZona tea), which not only limits finance/operating risk but also provides highly desirable exposure to on-trend, fast-growing beverage categories as well as positive price/mix," the firm said.
Shares of Dr Pepper Snapple closed down by 0.03% to $89.86 on Monday.
Separately, TheStreet Ratings team rates DR PEPPER SNAPPLE GROUP INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
We rate DR PEPPER SNAPPLE GROUP INC (DPS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and solid stock price performance. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: DPS