What Makes Primo Brands (PRMB) So Attractive

Primo Brands Corporation (NYSE:PRMB) is one of the 7 best mid-cap consumer defensive stocks to buy.

On February 27, Nik Modi from RBC Capital increased the firm’s price target on Primo Brands Corporation (NYSE:PRMB) from $26 to $29. The analyst maintained an Outperform rating on the shares, which now offer a revised upside potential of more than 54%.

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Modi noted that the company delivered better-than-expected fourth-quarter results, driven by less severe declines in its delivery business. The analyst added that the performance marks a step in the right direction and increases confidence in the company’s recovery.

On February 27, JPMorgan also increased its price target on Primo Brands Corporation (NYSE:PRMB) from $21 to $27. The firm reiterated an Overweight rating on the stock, which yields an adjusted potential upside of almost 44% at the current level.

The revisions came in response to the company’s fourth quarter report, after which the firm revised its model. Primo’s Direct Delivery segment produced better-than-expected profits, and its guidance seems beatable, according to the firm.

Primo Brands Corporation (NYSE:PRMB) offers purified water and branded beverages and is one of the largest players in North America. They distribute their products through an extensive network of more than 150,000 retail outlets. They also sell through e-commerce, direct-to-consumer, residential, and commercial channels.

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