Primo Brands initiated with an Overweight at Barclays

Barclays analyst Lauren Lieberman initiated coverage of Primo Brands (PRMB) with an Overweight rating and $40 price target Primo offers what has proven to be an “increasingly rare combination within staples of solid earnings visibility at a compelling valuation,” the analyst tells investors in a research note. The firm says the company is an attractive consolidation story in a category insulated from several structural concerns weighing on other public food and beverage companies.