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Wells Fargo downgrades Dr Pepper Snapple to underperform

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Dr Pepper Snapple Group Inc. (NYSE:DPS) shares are currently trading in the negative territory as a result of a downgrade from Wells Fargo. The beverage maker was downgraded to from market perform to underperform. Wells Fargo cited concerns about valuation not meeting underlying fundamentals, declining share loss in the carbonated soft drink industry harming top line earnings, and margin pressures as reasons for the downgrade. As a result, the price target was lowered to a range of $46-48; the previous range was from $47-49 a share.