Primo Brands price target lowered to $19 from $24 at Deutsche Bank

Deutsche Bank analyst Steve Powers lowered the firm’s price target on Primo Brands (PRMB) to $19 from $24 and keeps a Hold rating on the shares. The firm sees “legitimate and widespread pressures building” across much of the consumer packaged goods industry due to the conflict in the Middle East. The stocks underperformed in March on cost inflation concerns, potential demand destruction from trade-down, and adverse currency moves, the analyst tells investors in a research note.