Primo Brands initiated with a Buy at Truist

Truist initiated coverage of Primo Brands (PRMB) with a Buy rating and $42 price target The company is well positioned to benefit from tailwinds such as water quality concerns, health trends, and premiumization, the analyst tells investors in a research note. Further, the firm believes the potential benefits of the BlueTriton merger are not being fully reflected in the current share price. It sees “strong upside potential” to the synergy outlook.