Mixed Analyst Sentiment Surrounds Primo Brands (PRMB) Amid Price Target Revisions

Primo Brands Corporation (NYSE:PRMB) is one of billionaire Daniel Sundheim’s stock picks with huge upside potential. On October 28, Mizuho revised its price target for Primo Brands Corporation (NYSE:PRMB), reducing it from $40 to $35, while maintaining its Outperform rating on the stock.

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Earlier on October 17, Jefferies initiated coverage of the stock with a ‘Hold’ rating and a $23 price target. The research firm has echoed the company’s position at the intersection of scale and structural growth. Its premium offerings are expected to maintain the upside momentum as growing cash flow provides the much-needed flexibility. However, the research firm echoed the Hold stance, citing concerns about integration complexity that could limit near-term visibility. The research firm insists the company needs to demonstrate execution proof points.

Moreover, on October 8, BofA Securities analyst Peter Galbo lowered the price target for Primo Brands from $32 to $26 but reaffirmed a Buy rating. Galbo explained that BofA is reducing Q3 projections for revenue and earnings per share across its consumer staples portfolio, with Primo Brands among the affected companies. Despite the downward revision, the continued Buy rating signals confidence in Primo’s core business strength.

Primo Brands Corporation (NYSE:PRMB) is a North American beverage company focused on healthy hydration that distributes a broad portfolio of bottled water brands through retail and home delivery channels. It is a large bottled water company that owns brands like Poland Spring, Pure Life, Mountain Valley, and Saratoga, and its products include spring, sparkling, and purified water.

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Disclosure: None. This article is originally published at Insider Monkey.