Primo Brands price target lowered to $21 from $23 at JPMorgan

JPMorgan lowered the firm’s price target on Primo Brands (PRMB) to $21 from $23 and keeps an Overweight rating on the shares as part of its 2026 outlook. The firm believes the fundamental setup into 2026 for the beverages, household and personal care sectors remains challenging. However, JPMorgan expects better results as “many headwinds from 2025 are lapped,” including pressure on low income and Hispanic consumers as well as tariffs. There could be some tailwinds to consumption and profitability from lower tariffs and favorable currency moves for multinationals, the analyst tells investors in a research note.