J.P. Morgan Reduces Estimates On DPS

J.P. Morgan is reducing estimates on Dr Pepper Snapple Group DPS from $2.78 to $2.70 for 2011 and from $3.04 to $3.00 for 2012. “DPS recently issued an 8-K highlighting difficult cost inflation and correcting some information in an interview,” J.P. Morgan writes. “This comes as little surprise given recent comments by both Coke KO and Pepsi PEP, but the extra kicker appears to be a sharp recent rise in apple juice concentrate prices.” Dr Pepper Snapple Group closed Thursday at $36.58.