Jefferies downgrades JDE Peet's to 'hold' citing 'limited upside post offer'

JDE Peets NV

07/10/2025 11:30

** Jefferies downgrades Netherlands-based coffee and tea group JDE Peet's JDEP.AS to "hold" from "buy", as its share price now reflects the full value of KDP's offer

** "The share price reflects full value following KDP's cash offer of €31.85 in August," says broker

** Jefferies raises TP to 31 euros, slightly below offer price to reflect modest deal execution risks and potential delays

** "Antitrust and shareholder approval risks appear limited," says broker, adding closing still anticipated for first half of 2026

** Jefferies notes challenges from private label gains in Europe, as rising prices lead to consumer downtrading and weak volumes for the company in late summer

** "A gradual recovery will be essential to meet H2 expectations," it adds

** Of 12 analysts that cover JDE Peets, two rate the stock "strong buy" or "buy"​ and ten rate it "hold" - LSEG data

 (Reporting by Dimitri Rhodes)

 ((Dimitri.rhodes@thomsonreuters.com))