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Primo Brands initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Eric A. Serotta initiated coverage of Primo Brands (PRMB) with an Overweight rating and $38 price target Recent weakness presents an attractive long-term entry point in this attractive consumer packaged goods growth story aligned with health and wellness trends, boosted by cost synergies and an improved industry structure, the analyst tells investors in a research note. The firm believes short-term challenges are priced in.

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