Primo Brands initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of Primo Brands (PRMB) with a Neutral rating and $25 price target The firm sees near-term execution challenges following the merger of BlueTriton Brands. However, over the longer term, Primo is positioned to benefit as the largest player in the U.S. bottled water market, with room to expand into “fast-growing” sparkling water, the analyst tells investors in a research note.